The Lazarus Group, linked to North Korean state actors, has recently come under scrutiny for laundering over $1.5 billion in cryptocurrency via the Black U Mixer.
Lazarus Group's Activities
The Lazarus Group is utilizing the Black U Mixer to launder funds stolen from various cyber attacks. Notable incidents include the hack involving Bybit. The group employs a range of channels, including OTC brokers, mixers, and P2P exchanges, to obscure its involvement in these operations.
ZachXBT's Investigation Results
Based on an analysis conducted by ZachXBT, it has been revealed that the group has laundered over $200 million linked to 25 hacks since August 2020. The primary assets involved in the laundering include ETH, BTC, and ERC-20 tokens.
Reactions and Consequences
In response to the activities of the Lazarus Group, the FBI has confirmed its role in cyber attacks and emphasized the need for heightened surveillance of cryptocurrency activities. Discussions are underway regarding changes to regulations concerning mixers and exchanges. While immediate effects on current DeFi protocols are not evident, industry representatives insist on the necessity for improved anti-money laundering measures.
The activities of the Lazarus Group highlight the need for further tightening of regulations and controls in the cryptocurrency sphere to prevent potential financial and legal risks.
