Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ETHEREUM NEWS»Massive Ethereum Laundering Operation: North Korean Hackers Misappropriate Tornado Cash for $12 Million
ETHEREUM NEWS

Massive Ethereum Laundering Operation: North Korean Hackers Misappropriate Tornado Cash for $12 Million

By Crypto FlexsMarch 15, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Massive Ethereum Laundering Operation: North Korean Hackers Misappropriate Tornado Cash for  Million
Share
Facebook Twitter LinkedIn Pinterest Email

In recent developments North Korean hackers A group associated with the infamous Lazarus Group used coin mixing service Tornado Cash to launder approximately $12 million worth of stolen Ethereum (ETH) within the past 24 hours.

This incident follows the theft of $100 million worth of cryptocurrency from the HTX cryptocurrency exchange and HECO Bridge in November 2023, which blockchain analytics firm Elliptic and other experts attributed to Lazarus Group.

$100M Cryptocurrency Heist and Ethereum Laundering Revealed

that much Lazarus Groupa well-known cybercrime organization known to be backed by the North Korean regime, has a long history of high-profile hacking campaigns.

According to Elliptic’s latest cryptocurrency crime: reportIn November 2023, the infamous Lazarus Group reportedly orchestrated a massive heist targeting the HTX cryptocurrency exchange and cross-chain bridge, stealing $100 million in various cryptocurrencies, including Ethereum.

Evidence gathered by Elliptic and other experts pointed to the involvement of the Lazarus Group based on its modus operandi and subsequent movement of stolen funds.

The survey also points out that according to their “general pattern”: Crypto LaunderingHackers quickly converted the stolen tokens to Ethereum through a decentralized exchange (DEX).

The illegally acquired Ethereum funds were left dormant by hackers as recently as March 13th. tornado cache. Tornado Cash is a decentralized smart contract-based mixer that was previously sanctioned by the U.S. Treasury in August 2022 for laundering $455 million from the Lazarus Group cryptocurrency hack.

However, the decentralized nature of Tornado Cash’s operations prevented it from being shut down like centralized mixers like Sinbad.io.

Last resort for the Lazarus group.

According to a blockchain analysis firm, sanctions imposed At Tornado Cash, Lazarus Group focused on using Sinbad.io as an alternative cross-chain bridge and Bitcoin-based mixer.

However, Sinbad.io itself was seized by US authorities in November 2023, eliminating another mixing option available to hackers. As a result, the group appears to have returned to Tornado Cash, using its decentralized architecture and resistance to raids to launder large-scale money and obscure the tracking of transactions.

Ultimately, Elliptic suggests that Lazarus Group’s renewed reliance on Tornado Cash could be due to “reduced availability.” large scale mixer Due to law enforcement activity targeting services such as Sinbad.io and Blender.io.

With few viable alternatives, the group took advantage of Tornado Cash’s continued operation despite sanctions and leveraged the security of smart contracts and the decentralized nature of blockchain networks.

The daily chart shows the ETH price trending downward over the last 24 hours. Source: ETHUSD on TradingView.com

As of this writing, Ethereum is currently trading at $3,870. earlier this week Best in 2 years $4,084; However, it has failed to sustain integration beyond this level. As a result, the price of ETH fell by 2.5% in the last 24 hours.

Featured image from Shutterstock, chart from TradingView.com

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto Scam Markets thrives again after attempting to clean up Telegram.

June 24, 2025

Bitcoin is more than $ 104K as the merchant’s eyes move from H2 to $ 145,000.

June 20, 2025

Can Etherrium price return to $ 4,000? Analysts say that ETH should go beyond this support.

June 16, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

El Salvador’s continued acceptance of Bitcoin during President Bukele’s second term

June 2, 2024

Cardano Will Continue Trading Sideways Ahead Of A Big Move: Analyst

December 26, 2023

4 reasons HashKey Capital is bullish on altcoins

October 22, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.