The North Korean hacker collective, Lazarus Group, has laundered over US$200 million in stolen cryptocurrency, using refined strategies that embrace coin mixers and peer-to-peer exchanges.
The operations, which spanned from August 2020 to October 2023, had been detailed in a report by on-chain investigator ZachXBT.
The digital detective’s investigation uncovered the laundering of funds from over 25 totally different hacks throughout varied blockchains, with the Lazarus Group using Ethereum mixer Twister Money and Bitcoin-based ChipMixer to hide the origins of the illicit funds.
The group additionally transformed massive sums of cryptocurrency to fiat by way of peer-to-peer exchanges, with accounts linked to them receiving US$44 million from these hacks.
Usernames “EasyGoatfish351” and “FairJunco470” had been recognized on the P2P platforms as being related to the laundering actions.
The Lazarus Group is infamous for executing among the most important cryptocurrency heists.
In line with the United Nations Security Council, their cumulative thefts have resulted in over US$3 billion in digital belongings.
The UNSC alleges that the Lazarus Group’s crypto hacking spree funds North Korea’s weapons program.
