Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»US moves to seize $2.7 million from Lazarus hacks tracked through Tornado Cash and other mixers
ADOPTION NEWS

US moves to seize $2.7 million from Lazarus hacks tracked through Tornado Cash and other mixers

By Crypto FlexsOctober 6, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
US moves to seize .7 million from Lazarus hacks tracked through Tornado Cash and other mixers
Share
Facebook Twitter LinkedIn Pinterest Email

As the U.S. government seeks to seize approximately $2.67 million worth of cryptocurrency stolen in two major hacks, two recent forfeiture lawsuits filed by the U.S. Attorney for the District of Columbia shed new light on how North Korean cryptocurrency hackers launder funds. Details have been revealed.

The forfeiture complaint, first filed on Friday, alleges that the North Korea-linked Lazarus Group’s $28 million hack of cryptocurrency options exchange Deribit in November 2022 resulted in the receipt of approximately $1.70 worth of Tether (USDT) tracked through the Tornado Cash Mixer. ) and aims to recover about $15.50 worth of avalanches. A group hacked the $41 million online cryptocurrency casino Stake.com, securing approximately $971,000 worth of Bridge Bitcoin (BTC.b) at current prices.

From Derivit to Tornado

The first of the two reports concerns the Lazarus Group’s methods of laundering funds from the Deribit hack through cryptocurrency mixer Tornado Cash, a service at the center of an upcoming money laundering trial closely watched by cryptocurrency advocates. Law enforcement was able to track down some of the $28 million in funds laundered in the theft after North Korean hackers accessed Deribit’s hot wallet servers to exchange assets for Ethereum and transfer them through Tornado Cash, eventually converting them to Tether. . As shown in the diagram in the filing, it is a stablecoin on the Tron blockchain.

Law enforcement officials traced the funds through Tornado by noting similarities between certain Ethereum wallets. The wallets received transfers at similar times (within minutes of each other), utilized similar cross-chain bridges, received funds for transaction fees from the same address, and eventually held the funds at the same integrated address.

Hackers attempted to convert Ethereum assets to USDT on three separate occasions. The first two money laundering attempts were halted when law enforcement froze some of the funds in question. In a third attempt, the hackers successfully laundered the remaining funds, leading law enforcement to freeze approximately $1.7 million USDT in five associated wallets.

From Stake.com to Sinbad and Yonmix

The second filing concerns the $41 million hack of the Lazarus Group’s online casino Stake.com and its attempt to launder funds in three stages. Converting funds to BTC via Avalanche’s Bitcoin bridge, and moving stolen BTC through Bitcoin mixers Sinbad and Yonmix. Finally, convert Bitcoin to a stablecoin such as USDT. The funds involved were frozen in phases 1 through 3, which is believed to be an asset freeze request for the Avalanche Bridge.

In Phase 1, law enforcement typically converts stolen assets into native tokens, such as Polygon’s MATIC tokens and Binance Smart Chain’s BNB tokens, and then freezes the assets in seven transactions, linking that value to Bitcoin via the Avalanche Bridge. I did it. However, despite the government’s intervention, “North Korea was able to transfer the majority of the stolen funds to the BTC blockchain,” the document states.

In Bitcoin, hackers used mixers Sinbad and Yonmix, which offer services similar to Ethereum’s Tornado Cash, to further obfuscate the movement of stolen funds. “Law enforcement traced the flow of stolen funds through two hybrid services to the next stage of the North Korean hackers’ laundering process,” it states, but despite identifying the integrated wallet, officials only received an additional .099 BTC. I was able to retrieve it. , worth about $6,270 at current prices.

Even as law enforcement agencies have improved their ability to track and seize illicit cryptocurrencies, the Lazarus Group remains active and the group was recently blamed for the $230 million attack on Indian cryptocurrency exchange WazirX. I received it.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025
Add A Comment

Comments are closed.

Recent Posts

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 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

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025
Most Popular

Global Dollar Network Launches to Drive Stablecoin Adoption

November 5, 2024

Bitcoin Titer on the Edge of Glory: Will it Break $70,000 Resistance?

April 2, 2024

Trader warns of up to 40% correction in table on Memecoin surge, updates outlook for Fantom and Sui.

June 12, 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.