Fun

Lazarus Group moves $12M from HTX, HECO hacks to Tornado Cash

News Feed - 2024-03-15 05:03:23

Ana Paula Pereira3 hours agoLazarus Group moves $12M from HTX, HECO hacks to Tornado CashDespite U.S. sanctions, North Korea’s Lazarus Group has resumed laundering stolen crypto funds through Tornado Cash.660 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksNorth Korea’s Lazarus Group has resumed using Tornado Cash to launder funds stolen from hacks, despite sanctions against the crypto mixer. 


According to on-chain activity flagged by analytics firm Elliptic, hackers from Lazarus Group have transferred cryptocurrency worth $12 million to Tornado’s wallets since March 13. The funds were stolen in November from the crypto exchange HTX and its cross-chain bridge HTX Eco Chain, or HECO.


Hot wallets on the HTX exchange weredrained for $30 million during an attack on Nov. 22, while the HECO Chainwas hacked for $86.6 million on the same day. The funds were swapped to Ether (ETH) through decentralized exchanges and were dormant until this week.Flow of funds from HTX/HECO hacks to Tornado Cash. Source: Elliptic


Tornado Cash is a decentralized and noncustodial privacy tool built on the Ethereum blockchain. The crypto mixer uses smart contracts to accept ETH and ERC-20 token deposits from one address and enables them to be withdrawn by a different address.


The protocol was sanctioned in August 2022 by the U.S. Treasury Department for its alleged role in allowing the laundering of over $1 billion in illicit funds, including money linked to the Lazarus Group.


“Tornado Cash continues to operate despite sanctions. The mixer operates through smart contracts running on decentralized blockchains, so it cannot be seized and shut down in the same way that centralized mixers such as Sinbad.io have been,” explained Elliptic.


The Lazarus Group has apparently switched back to Tornado Cash after losing other mixer options. According to Ellipitc, the hackers chose cross-chain bridges and the Bitcoin (BTC) mixer Sindbad to launder stolen money since the sanctions.


Sindbad, however, wasseized by Finnish authorities in November 2023 after U.S. sanctions went into effect, removing another mixing option for the hackers. The U.S. crackdown on crypto mixers also includes theclosing of the Blender platform in May 2022.


Authorities are also targeting developers of such mixers. Tornado Cash’s developers, Roman Storm and Alexey Pertsev, have been charged with several crimes by U.S. authorities, including conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money-transmitting business. The founder of the crypto mixer Bitcoin Fog was convicted of money laundering on March 12 in a similar development.


Magazine: Inside Pink Drainer — Security analyst defends his crypto scam franchise# Blockchain# Hacks# Money Laundering# Tornado CashAdd reactionAdd reactionRead moreBitcoin mining difficulty reaches new historical high as halving loomsCrypto gains reached $37.6B in 2023 — ChainalysisHong Kong regulators issue warning against Bybit exchange

News Feed

Bitcoin price to ‘sustain’ $265K level once boring consolidation ends — Analysts
Nancy Lubale6 hours agoBitcoin price to ‘sustain’ $265K level once boring consolidation ends — AnalystsAnalysts forecast a Bitcoin run to $265,000, but it could take longer than investors expect.5697 Total views3 T
General Bytes ATM Developers Add Two-Way Support for Bitcoin Cash-Based SLP Tokens
General Bytes ATM Developers Add Two-Way Support for Bitcoin Cash-Based SLP Tokens The Simple Ledger Protocol (SLP) has been extremely popular among Bitcoin Cash (BCH) advocates and
Amaka Nwaokocha14 hours agoShiba Inu’s Shibarium Network resumes block production after brief pauseThe Shiba Inu project has opted to secure insurance coverage amounting to $2 million to address potential fund retrieva
LBank Exchange Will List CTOMORROW PLATFORM (CTP) on April 20, 2022
LBank Exchange Will List CTOMORROW PLATFORM (CTP) on April 20, 2022 press release PRESS RELEASE.INTERNET CITY, DUBAI, Apr. 18, 2022 – LBank Exchange, a global digital asset t
Bitcoin 6-Month Flight Plan To $188,000, Here’s The Roadmap
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Brayden Lindrea8 hours agoRyder Ripps ordered to pay Yuga Labs $1.6M in copyright lawsuitThe NFT artists were also ordered to cover Yuga Labs’ legal fees after determining the trademark infringement constituted an “e
Jesse Coghlan7 hours agoCoinbase signals EU, Canada, Brazil, Singapore and Australia as prioritiesThe crypto exchange’s focus on non-U.S. markets is part of the next phase in its expansion plans.1845 Total views35 Tota
Nicholas Anthony2 hours agoExpect new IRS crypto surveillance to come with a surge in confiscationThe Justice Department is claiming that it"s "critical" for it to have the power to seize cryptocurrency from Am
Remittance Costs Lower in Q3 World Bank Study Shows – Only Cryptocurrencies Meeting UN Goal
Remittance Costs Lower in Q3 World Bank Study Shows – Only Cryptocurrencies Meeting UN Goal The latest study by the World Bank shows that it costs 4.98% on ave
Tether’s Market Valuation Grows 144% in 2020, USDT Market Cap Worth $10 Billion
Tether"s Market Valuation Grows 144% in 2020, USDT Market Cap Worth $10 BillionThe most popular stablecoin, Tether, has propelled its way into the third-largest position by cryptocu
Dogecoin Poised For A Huge Breakout: Here’s Why Today Could Be The Day
Este artículo también está disponible en español. The Dogecoin (DOGE) price stands at a critical juncture as technical analysts point toward a potentially significant bre
Cointelegraph Innovation Circle8 hours ago9 crypto leaders share advice for proof-of-humanity solution buildersRespect for users’ personal privacy must be top of mind when developing proof-of-humanity identity solution