LIVELazarus Group would have laundered more than USD 200 million in cryptocurrencies
The well-known hacking group has used a combination of cryptocurrency mixers and peer-to-peer marketplaces to launder stolen funds
The Lazarus Group, the infamous state-backed North Korean hackers, laundered more than $200 million in stolen cryptocurrency between 2020 and 2023.
The funds were stolen from more than 25 cryptocurrency hacks, according to the April 29 X post by pseudonymous on-chain researcher ZachXBT.
Lazarus is among the most notorious cryptocurrency hacking groups, first emerging in 2009. In total, the Lazarus Group stole more than $3 billion in crypto assets in the six years leading up to 2023.
North Korean hackers used a combination of cryptocurrency mixing services and peer-to-peer (P2P) marketplaces to convert the stolen digital assets, according to ZachXBT:
"Identified accounts on Noones and Paxful (P2P marketplaces) that received funds from the hacks and were used to convert cryptocurrencies to fiat."
According to ZachXBT, the hacking group has laundered stolen cryptocurrencies worth at least $44 million through peer-to-peer marketplaces Paxul and Noones, using two usernames identified as “EasyGoatfish351” and “FairJunco470.” These usernames show deposits and trading volumes commensurate with the stolen funds.
