Home » North Korean Lazarus Group’s $27.7 Million ETH Laundering Attempt Intercepted

North Korean Lazarus Group’s $27.7 Million ETH Laundering Attempt Intercepted

by Hans Lipper

On the night of January 29th, 2023, the notorious North Korean Lazarus Group attempted to launder $27.7 million worth of ETH stolen from Harmony Bridge in June 2022. However, the security teams of unnamed exchanges were able to freeze most of the funds, with the exact amount yet to be determined. Blockchain security researcher ZachXBT first sounded the alarm on Twitter, posting evidence of $17.7 million being moved through two mixing tools and onto exchanges. The previous round of laundering saw a good portion of the Harmony funds turned into BTC, with an undisclosed amount frozen and seized by the FBI. The news of the interception was welcomed by the crypto community, with many praising both Zach and the security teams at the unnamed exchanges for their vigilance. It is unclear what will happen to the frozen funds, though it is likely they will be turned over to the FBI first, potentially allowing their security researchers to glean more info on the Lazarus Group. This interception is a reminder of the importance of vigilance in the crypto community, and a testament to the effectiveness of the security teams at the unnamed exchanges.

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