North Korea's Lazarus Group moved $750,000 in Ethereum to Tornado Cash.

North Korea's Lazarus Group moved $750,000 in Ethereum to Tornado Cash.

The notorious North Korea-backed Lazarus group has once again resurfaced in the crypto world, this time employing the sanctioned decentralized crypto mixer, Tornado Cash, to launder over $100 million in stolen Ethereum [1]. This heist marks the first significant movement of funds since the group's exploitation of the HTX and Heco bridge last November, believed to be the work of the same North Korean hackers [1].

According to blockchain security firm PeckShield, addresses linked to the Lazarus group have transferred approximately 40,391 ETH, equivalent to $145.7 million, through Tornado Cash [1]. The funds were distributed among 18 different addresses, which then sent the funds to two Tornado Cash addresses [1]. This recent activity demonstrates the group's continued efforts to evade detection and exploit vulnerabilities in the crypto ecosystem.

The Lazarus group's return to Tornado Cash is not surprising, given the challenges authorities face in curtailing the operations of such decentralized mixers [1]. The group has been linked to several high-profile crypto hacks and exploitations, including the $41 million hack of online casino platform Stake and the $100 million stolen from Atomic Wallet [2]. The total amount stolen by North Korea-linked hackers is estimated to be over $3 billion between 2017 and 2023 [2]. These illicit proceeds serve as a significant source of foreign currency earnings for the heavily sanctioned country, which also allegedly uses them to fund its weapons program [2].

Despite the ongoing crackdown on centralized mixers like Sinbad.io, the Lazarus group's use of Tornado Cash highlights the need for continued vigilance and innovation in the crypto security space [1]. As the crypto ecosystem continues to evolve, it is essential to stay informed and adapt to new threats and challenges.

References:

[1] Cryptoslate. (2023, April 14). North Korea-backed Lazarus group funnels over $100 million in Ethereum through sanctioned mixer Tornado Cash in 8 days. https://cryptoslate.com/north-korean-lazarus-group-funnels-over-100-million-in-ethereum-through-sanctioned-mixer-tornado-cash-in-8-days/

[2] TRM Labs. (2023, April 13). North Korea's Lazarus Group Moves Funds Through Tornado Cash. https://www.trmlabs.com/post/north-koreas-lazarus-group-moves-funds-through-tornado-cash