{"id":77545,"date":"2024-04-29T11:28:44","date_gmt":"2024-04-29T15:28:44","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=77545"},"modified":"2024-04-29T11:28:48","modified_gmt":"2024-04-29T15:28:48","slug":"lazarus-group-launders-200m-in-hacked-crypto-since-2020","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/lazarus-group-launders-200m-in-hacked-crypto-since-2020\/","title":{"rendered":"Lazarus Group Launders $200M+ in Hacked Crypto Since 2020"},"content":{"rendered":"\n

The notorious Lazarus Group in North Korea has laundered over $200 million from more than 25 crypto hacks between 2020-2023.<\/p>\n\n\n\n

\"Lazarus
Lazarus Group Launders $200M+ in Hacked Crypto Since 2020<\/figcaption><\/figure>\n\n\n\n

The infamous hackers sponsored by the North Korean government, Lazarus Group, laundered stolen cryptocurrencies worth over $200 million between 2020 and 2023. <\/p>\n\n\n\n

In over twenty-five crypto breaches, the notorious group of hackers managed to launder funds worth more than $200 million, according to an April 29 X post by a pseudonymous on-chain researcher named ZachXBT.<\/p>\n\n\n\n

Lazarus is among the most infamous cyber collectives to have surfaced since 2009. Over $3 billion worth of cryptocurrency assets have been pilfered by the Lazarus Group in the six years stretching up to 2023. <\/p>\n\n\n\n

The North Korean hackers converted the stolen digital asset<\/a> using a combination of peer-to-peer (P2P) marketplaces and crypto blending services, according to ZachXBT:<\/p>\n\n\n\n

\n

Identified accounts at Noones and Paxful (P2P marketplaces) that received funds from the hacks and were used to convert crypto to fiat.<\/p>\n<\/blockquote>\n\n\n\n

ZachXBT reports that the group of hackers used the P2P marketplaces Paxul and Noones to launder at least $44 million worth of stolen cryptocurrency under the aliases “EasyGoatfish351” and “FairJunco470.” The volumes of deposits and trades associated with these identifiers correspond to the stolen funds.<\/p>\n\n\n\n

Additionally, the analysis reveals that the compromised funds were transformed into stablecoins<\/a> before their withdrawal for cash. Historically, the group has initiated crypto-to-fiat conversions through over-the-counter (OTC) merchants based in China.<\/p>\n\n\n\n

ZachXBT reports that in November 2023, Tether blacklisted stolen funds worth more than $374,000 and that three out of four stablecoin issuers have blacklisted an additional $3.4 million residing in a cluster of addresses associated with Lazarus.<\/p>\n\n\n\n

17% of the total funds misappropriated in 2023, or more than $309 million, are ascribed to the Lazarus Group. Over $1.8 billion in cryptocurrencies were compromised and exploited in 2023, according to a report published by Immunefi on December 28. <\/p>\n\n\n\n

SlowMist, a provider of blockchain security\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> analytics, discovered that the North Korean hacker group had been utilizing LinkedIn to pilfer digital assets through targeted malware attacks as early as April.\u00a0<\/p>\n\n\n\n

Lazarus Group was responsible for several of the most significant cryptocurrency heists, including the Ronin Bridge hack of 2022, which seized cryptocurrency worth $625 million.  <\/p>\n","protected":false},"excerpt":{"rendered":"

The notorious Lazarus Group in North Korea has laundered over $200 million from more than 25 crypto hacks between 2020-2023. The infamous hackers sponsored by the North Korean government, Lazarus Group, laundered stolen cryptocurrencies worth over $200 million between 2020 and 2023.  In over twenty-five crypto breaches, the notorious group of hackers managed to launder funds worth […]<\/p>\n","protected":false},"author":36,"featured_media":77554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5495,19341,9168],"class_list":["post-77545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-2","tag-launders","tag-lazarus-group"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/04\/Lazarus_Group_3828777b4e.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/77545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=77545"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/77545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/77554"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=77545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=77545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=77545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}