Lazarus Group Linked To $200 Million Crypto Laundering Scheme
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Lazarus Group Linked To $200 Million Crypto Laundering Scheme

  • Lazarus Group launders $200 Million in crypto to fund North Korea’s arms, UN claims

According to blockchain investigator ZachXBT, North Korea’s Lazarus Group was implicated in laundering $200 million through cryptocurrency hacks between August 2020 and October 2023.

The group utilized advanced laundering techniques like coin mixers and peer-to-peer exchanges.

ZZachXBT’s report revealed that the group masked the origins of stolen funds from over 25 breaches across various blockchain platforms.

See Also: Russia Set to Ban Cryptocurrency Circulation from September 1, Allowing Only Domestic Digital Assets

They predominantly used the Ethereum mixer Tornado Cash and the Bitcoin-based ChipMixer.

Moreover, Lazarus converted substantial amounts of cryptocurrency into fiat currency via peer-to-peer platforms, with linked accounts receiving $44 million.

Usernames “asyGoatfish351” and “airJunco470” were identified as part of these transactions.

The group is known for orchestrating some of the most significant digital heists, with thefts totaling over $3 billion.

The United Nations Security Council claims these funds support North Korea’s weaponry initiatives, underscoring the broader security risks.

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