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The arrest of the suspect revealed additional details about his activities.
In Buenos Aires, Argentina, police have discovered an illegal financial organization engaged in the exchange of fiat and cryptocurrencies, which may have been associated with North Korean hackers. The organization was led by a 29-year-old citizen who was believed to have received some of the $100 million worth of crypto assets stolen from Horizon Bridge in 2022.
During searches in the apartment, cryptocurrency worth $121,327 and electronic devices that may contain data on transactions related to money laundering were seized from the accused. The criminal constantly changed his place of residence in order to hide from the investigation, but he was found thanks to information from Binance, where he conducted part of the operations. In another location associated with the suspect, another $15 million was found.
The investigation began in November 2023, when it became known that some of the funds stolen by hackers could end up in a crypto wallet in Argentina. During the investigation, it turned out that the arrested man made more than 2400 cryptocurrency transfers through Binance Pay for a total amount of over 4.5 million USDT.
Law enforcement agencies explain that the suspect purchased more than 1.3 million USDT with fiat money and conducted 102 transactions to sell more than 29,000 USDT, receiving cash for them. USDT is a stablecoin pegged to the US dollar.
There were also suspicions that the perpetrator could have used other people as "mules" to hide traces of money transfers, which complicates the investigation. Investigators also suggest that the citizen could be involved in broader criminal activities related to the financing of terrorism and the distribution of CSAM materials. The case is ongoing, and investigators hope to uncover more information about a possible network linked to money laundering and other crimes.
Source
In Buenos Aires, Argentina, police have discovered an illegal financial organization engaged in the exchange of fiat and cryptocurrencies, which may have been associated with North Korean hackers. The organization was led by a 29-year-old citizen who was believed to have received some of the $100 million worth of crypto assets stolen from Horizon Bridge in 2022.
During searches in the apartment, cryptocurrency worth $121,327 and electronic devices that may contain data on transactions related to money laundering were seized from the accused. The criminal constantly changed his place of residence in order to hide from the investigation, but he was found thanks to information from Binance, where he conducted part of the operations. In another location associated with the suspect, another $15 million was found.
The investigation began in November 2023, when it became known that some of the funds stolen by hackers could end up in a crypto wallet in Argentina. During the investigation, it turned out that the arrested man made more than 2400 cryptocurrency transfers through Binance Pay for a total amount of over 4.5 million USDT.
Law enforcement agencies explain that the suspect purchased more than 1.3 million USDT with fiat money and conducted 102 transactions to sell more than 29,000 USDT, receiving cash for them. USDT is a stablecoin pegged to the US dollar.
There were also suspicions that the perpetrator could have used other people as "mules" to hide traces of money transfers, which complicates the investigation. Investigators also suggest that the citizen could be involved in broader criminal activities related to the financing of terrorism and the distribution of CSAM materials. The case is ongoing, and investigators hope to uncover more information about a possible network linked to money laundering and other crimes.
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