Fun

Lazarus Group laundered over $200M in hacked crypto since 2020

News Feed - 2024-04-30 12:04:00

Zoltan Vardai9 hours agoLazarus Group laundered over $200M in hacked crypto since 2020The notorious group of hackers has used a combination of crypto mixers and peer-to-peer marketplaces to launder the stolen funds.1302 Total views34 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe Lazarus Group, the infamous North Korean state-backed hackers, laundered over $200 million worth of stolen crypto between 2020 and 2023.


The funds were stolen from over 25 crypto hacks, according to pseudonymous on-chain researcher ZachXBT’s April 29 X post.


Lazarus is among the most notorious groups of crypto hackers and first emerged in 2009. In total, the Lazarus Group stole over $3 billion in crypto assets in the six years leading up to 2023.


The North Korean hackers used a combination of crypto mixing services and peer-to-peer (P2P) marketplaces to convert the stolen digital assets, according to ZachXBT:“Identified accounts at Noones and Paxful (P2P marketplaces) that received funds from the hacks and were used to convert crypto to fiat.”


According to ZachXBT, the group of hackers has laundered at least $44 million worth of stolen crypto through the Paxul and Noones peer-to-peer marketplaces, using two usernames identified as “EasyGoatfish351” and “FairJunco470.” These usernames display deposits and trading volumes in line with the stolen funds.Stolen funds flow. Source:ZachXBT


The analysis further indicates that the hacked funds were converted into the Tether (USDT) stablecoin before being exchanged for cash and withdrawn. The group has historically relied on China-based over-the-counter traders for crypto-to-fiat conversions.


Over $374,000 worth of stolen funds were blacklisted by Tether in November 2023, while three out of four stablecoin issuers have blacklisted an additional $3.4 million sitting in a cluster of addresses associated with Lazarus, according to ZachXBT.


Related:DeFi platform Hedgey Finance hit by $44 million exploitLazarus Group stole 17% of hacked crypto in 2023


Over $309 million, or 17% of the total stolen funds in 2023, are attributed to the Lazarus Group. 2023 saw over $1.8 billion worth of crypto lost to hacks and exploits, according to a Dec. 28 report by Immunefi.


Earlier in April, the North Korean hacker group was using LinkedIn to steal digital assets with targeted malware attacks, blockchain security analytics firm SlowMist reported.


Lazarus Group was behind some of the biggest heists in the crypto industry, including the 2022 Ronin Bridge hack that resulted in $625 million worth of stolen cryptocurrency.


Magazine: 7 ICO alternatives for blockchain fundraising: Crypto airdrops, IDOs & more# Blockchain# Hackers# North Korea# Hacks# DeFiAdd reaction

News Feed

Polkadot – Vitalik’s Nightmare or a Blockchain Dream Come True?
Polkadot – Vitalik’s Nightmare or a Blockchain Dream Come True? Although it’s possible to draw comparisons between almost any two blockchain developmen
Movement Labs joins Polygon Agglayer, bags $160M TVL commitment for mainnet
Arijit Sarkar9 hours agoMovement Labs joins Polygon Agglayer, bags $160M TVL commitment for mainnetMovement Labs joins Polygon’s AggLayer to boost blockchain interoperability and protect developers against 90% of audit
Samsung Participates in Series A Round That Raised $25 Million for a Metaverse Startup
Samsung Participates in Series A Round That Raised $25 Million for a Metaverse Startup A Korean metaverse startup, Doubleme, is said to have raised $25 million in a Series A round
Ethereum To Pull A BTC 2021-Like Rally? Analyst Shares Massive Prediction
Este artículo también está disponible en español. As Bitcoin finally soars above the long-awaited $100,000 milestone, Ethereum (ETH) attempts to break out from a key resi
Bitcoin, Ethereum Technical Analysis: BTC Hovers Below $24,000 on Friday, as Crypto Markets Consolidate
Bitcoin, Ethereum Technical Analysis: BTC Hovers Below $24,000 on Friday, as Crypto Markets Consolidate Cryptocurrency markets consolidated on Friday, as bulls marginally pulled ba
Unique Addresses Tethered to Ethereum Defi Apps Climb Past 3 Million
Unique Addresses Tethered to Ethereum Defi Apps Climb Past 3 Million The number of users or unique addresses leveraging decentralized finance (defi) protocols vi
More Than 65% of Oman’s Crypto Holders Are College Graduates — Study
More Than 65% of Oman"s Crypto Holders Are College Graduates — Study Approximately 65,000 of Oman’s residents are holders of crypto and a majority of these are either high
Whales Bought 420 Million Cardano After Trump’s U.S. Strategic Crypto Reserve Announcement – Insights
Este artículo también está disponible en español. Cardano has seen massive volatility since last weekend after an explosive 80% price surge, fueled by President Trump’s
US lawmakers demand SEC clarify position on Prometheum’s plans for Ether
Turner Wright4 hours agoUS lawmakers demand SEC clarify position on Prometheum’s plans for EtherAccording to a letter for SEC Chair Gary Gensler, leaving Ether in regulatory limbo between the SEC and CFTC could have &q
Jay Clayton Leaves SEC: Crypto Industry Hopeful for Bitcoin ETF Approval
Jay Clayton Leaves SEC: Crypto Industry Hopeful for Bitcoin ETF ApprovalChairman Jay Clayton is geared to leave the U.S. Securities and Exchange Commission (SEC) after President Don
David Attlee14 hours agoSouth Korea to invite 100K citizens to test CBDC in 2024Participants will be restricted to using the CBDC only for payment, without an option to store, exchange or send it to other users.2863 Tota
Crypto Exchange FTX Fires 3 Top Executives, Report Reveals
Crypto Exchange FTX Fires 3 Top Executives, Report Reveals Three high-ranking executives of failed cryptocurrency exchange FTX have reportedly been dismissed. Among them is one of