UN Report: North Korea's Lazarus Group Launders Billions in Crypto Through Tornado Cash Mixer

May 21, 2024
UN Report: North Korea's Lazarus Group Launders Billions in Crypto Through Tornado Cash Mixer
  • A recent UN report reveals that North Korea's Lazarus Group has been transferring millions of dollars' worth of stolen cryptocurrencies back to the country via the Tornado Cash mixer.

  • The Lazarus Group is responsible for numerous cyberattacks on crypto firms, amassing over $3 billion in stolen funds between 2017 and 2024.

  • Despite US sanctions for facilitating money laundering, Tornado Cash remains a preferred tool for North Korean hackers.

  • North Korea's cyber warfare capabilities have grown, with 20 hacks in 2023 alone netting over $1 billion.

  • This underscores the persistent challenge of securing cryptocurrency platforms against state-sponsored cyber threats.

  • Additionally, Russia has reportedly released frozen North Korean assets, aiding North Korea's access to international banking networks.

Summary based on 2 sources


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