UN Report: North Korea's Lazarus Group Launders Billions in Crypto Through Tornado Cash Mixer
May 20, 2024A 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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Sources
InvestorsObserver • May 20, 2024
North Korean hackers use Tornado Cash to launder stolen cryptocurrencyCryptoPotato • May 19, 2024
Confidential UN Report Exposes Lazarus Group's $147.5M Stolen Crypto Transfer to North Korea