Hiding in the blockchain did not work out-analysts revealed the insidious plans of cyber bandits.
According to the latest data from the blockchain research company Elliptic, the Lazarus hacker group from North Korea has again returned to using the Tornado Cash service to launder stolen funds. The amount of $23 million stolen during the attack on the HTX cryptocurrency exchange in November was recently withdrawn through this service.
Tornado Cash, a service for mixing cryptocurrencies, was sanctioned by the US authorities in August 2022, but this did not prevent its further operation due to its decentralized structure. Sanctions against a similar service Sinbad.io They were introduced by the US Treasury Department in November last year.
The Lazarus Group's repeated appeal to Tornado Cash highlights the limited number of large-scale mixing services left in operation after the active actions of law enforcement agencies. Elliptic notes that hackers made more than 60 transactions worth more than $23 million through Tornado Cash, trying to hide the traces of money movement.
Using services like Tornado Cash and Sinbad.io it allows North Korean cybercriminals to disguise the source of stolen funds and legalize them. According to the US government, such actions help circumvent international sanctions related to the North Korean regime's military programs.
Over the past three years, hacking groups linked to the DPRK have stolen colossal amounts of money in cryptocurrency: approximately $1.7 billion in 2022 and about $1 billion in 2023.
Elliptic continues to track the movement of the stolen $112.5 million since the HTX attack in November. The stolen cryptocurrency reportedly didn't move until March 13, when transactions via Tornado Cash were discovered. Other blockchain security companies have also confirmed the transfer of funds.
Elliptic's research highlights the importance of monitoring and analyzing cryptocurrency transactions to ensure the security of digital assets and counter the financing of malicious activities on the international stage.
In an attempt to confuse the tracks, hackers can wait for a long time, and then transfer money from one crypto wallet to another. Nevertheless, blockchain experts are always on the lookout: they are always ready to inform law enforcement authorities where exactly the stolen cryptocurrency was sent.
According to the latest data from the blockchain research company Elliptic, the Lazarus hacker group from North Korea has again returned to using the Tornado Cash service to launder stolen funds. The amount of $23 million stolen during the attack on the HTX cryptocurrency exchange in November was recently withdrawn through this service.
Tornado Cash, a service for mixing cryptocurrencies, was sanctioned by the US authorities in August 2022, but this did not prevent its further operation due to its decentralized structure. Sanctions against a similar service Sinbad.io They were introduced by the US Treasury Department in November last year.
The Lazarus Group's repeated appeal to Tornado Cash highlights the limited number of large-scale mixing services left in operation after the active actions of law enforcement agencies. Elliptic notes that hackers made more than 60 transactions worth more than $23 million through Tornado Cash, trying to hide the traces of money movement.
Using services like Tornado Cash and Sinbad.io it allows North Korean cybercriminals to disguise the source of stolen funds and legalize them. According to the US government, such actions help circumvent international sanctions related to the North Korean regime's military programs.
Over the past three years, hacking groups linked to the DPRK have stolen colossal amounts of money in cryptocurrency: approximately $1.7 billion in 2022 and about $1 billion in 2023.
Elliptic continues to track the movement of the stolen $112.5 million since the HTX attack in November. The stolen cryptocurrency reportedly didn't move until March 13, when transactions via Tornado Cash were discovered. Other blockchain security companies have also confirmed the transfer of funds.
Elliptic's research highlights the importance of monitoring and analyzing cryptocurrency transactions to ensure the security of digital assets and counter the financing of malicious activities on the international stage.
In an attempt to confuse the tracks, hackers can wait for a long time, and then transfer money from one crypto wallet to another. Nevertheless, blockchain experts are always on the lookout: they are always ready to inform law enforcement authorities where exactly the stolen cryptocurrency was sent.
