Crypto News- In the murky underworld of cybercrime, a shadowy figure looms large: the Lazarus Group, infamous for their audacious exploits in the realm of cryptocurrency. According to the clandestine investigations of one ZachXBT, a pseudonymous on-chain sleuth, these North Korean state-backed hackers have managed to funnel a staggering $200 million worth of ill-gotten crypto through various channels between 2020 and 2023.
North Korean Lazarus Group: Laundering 200M Dollars in Hacked Crypto Since 2020
This enigmatic cabal of hackers, known for their brazen tactics since their emergence in 2009, has left a trail of digital destruction, tallying up a jaw-dropping $3 billion in stolen assets by 2023. Their methods are as cunning as they are clandestine, utilizing a combination of crypto mixing services and peer-to-peer marketplaces to obfuscate their nefarious transactions.
According to ZachXBT’s cryptic findings, Lazarus operatives conducted their dirty work through platforms like Noones and Paxful, under the aliases “EasyGoatfish351” and “FairJunco470,” leaving behind a digital breadcrumb trail of deceit. The stolen crypto, cleverly converted into the USDT stablecoin, was then laundered into fiat currency through the murky waters of China-based over-the-counter traders.
But their exploits haven’t gone unnoticed. Tether, one of the stalwarts of the crypto world, blacklisted over $374,000 of their tainted funds in a daring move in November 2023, with other stablecoin issuers following suit, marking certain addresses associated with Lazarus as digital no-go zones.
The Legend of Lazarus: Dominating the Cybercrime Chronicles
In the annals of cybercrime history, Lazarus stands tall, claiming a staggering 17% of all crypto stolen in 2023, a year that saw a total loss of $1.8 billion to hackers and exploiters. Their brazen escapades, including the infamous 2022 Ronin Bridge hack, which netted them a cool $625 million, have cemented their status as legends in the seedy underworld of crypto heists.
But the Lazarus saga doesn’t end there. Reports have surfaced of their insidious forays into the realm of professional networking, with LinkedIn serving as their latest hunting ground for unsuspecting victims. Using targeted malware attacks, they’ve continued to plunder digital assets with alarming efficiency, leaving cybersecurity experts scrambling to stay one step ahead of their elusive foes.
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