Key Takeaways
A UN report revealed that North Korean entities linked to the Lazarus Group laundered $147.5 million stolen from HTX by way of Twister Money;
The report highlighted 97 North Korean cyberattacks from 2017 to 2024;
Twister Money, used for laundering, faces scrutiny and authorized points, together with the conviction of developer Alexey Pertsev for cash laundering.
A confidential UN report disclosed that North Korean entities linked to the Lazarus Group used Twister Money to launder $147.5 million stolen from the HTX crypto trade.
The notorious cybercrime collective allegedly orchestrated the theft in March 2023.
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After mendacity dormant for a yr, the stolen funds had been funneled again to North Korea by crypto mixer Twister Money, which obscures the origins of transactions. Privateness protocols like Twister Money are often utilized by malicious actors to anonymize and make stolen property untraceable.
The UN doc additionally revealed an ongoing investigation into 97 cyberattacks attributed to North Korea, which siphoned an estimated $3.6 billion in crypto from 2017 to 2024.
Throughout this era, in 2022, the US sanctioned Twister Money for allegedly aiding North Korea in evading worldwide sanctions. Regardless of the founders’ denials, the platform’s position in laundering operations has confronted intense regulatory scrutiny.
Authorized points escalated with the current conviction of Alexey Pertsev, a developer behind Twister Money, who was sentenced to over 5 years in jail for taking part in cash laundering by the platform.
Total, the laundering of practically $150 million by North Korean operatives by Twister Money underscores the persistent and complicated nature of state-sponsored cybercrime.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Battle II period.With near a decade of expertise within the FinTech business, Aaron understands the entire greatest points and struggles that crypto lovers face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and business newcomers.Aaron is the go-to individual for all the pieces and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to remodel the area as we all know it, and make it extra approachable to finish newcomers.Aaron has been quoted by a number of established retailers, and is a printed creator himself. Even throughout his free time, he enjoys researching the market tendencies, and on the lookout for the subsequent supernova.
