Lazarus Group Linked To $200 Million Crypto Laundering Scheme
- Lazarus Group launders $200 Million in crypto to fund North Korea’s arms, UN claims
According to blockchain investigator ZachXBT, North Korea’s Lazarus Group was implicated in laundering $200 million through cryptocurrency hacks between August 2020 and October 2023.
The group utilized advanced laundering techniques like coin mixers and peer-to-peer exchanges.
ZZachXBT’s report revealed that the group masked the origins of stolen funds from over 25 breaches across various blockchain platforms.
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They predominantly used the Ethereum mixer Tornado Cash and the Bitcoin-based ChipMixer.
Moreover, Lazarus converted substantial amounts of cryptocurrency into fiat currency via peer-to-peer platforms, with linked accounts receiving $44 million.
Usernames “asyGoatfish351” and “airJunco470” were identified as part of these transactions.
The group is known for orchestrating some of the most significant digital heists, with thefts totaling over $3 billion.
The United Nations Security Council claims these funds support North Korea’s weaponry initiatives, underscoring the broader security risks.
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