North Korea moves millions in crypto as it looks to cash out stolen funds



News North Korea moves millions in crypto as it looks to cash out stolen funds Expert says hackers will still need to convert gains to cash after transfer of funds linked to Horizon Bridge heist Ethan Jewell January 17, 2023 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Physical representations of bitcoin, ethereum and litecoin \| Image: Pixabay, edited by NK Pro North Korea-linked attackers moved millions of dollars of cryptocurrency over the weekend, according to cryptocurrency exchange Binance, in what appeared to be part of efforts to cash out the illicit gains of recent thefts. The funds were linked to the Horizon Bridge heist, one of North Korea’s largest scores last year. “We detected Harmony One hacker fund movement,” Binance CEO Changpeng Zhao announced in a tweet Monday. “They previously tried to launder through Binance and we froze [their] accounts.” Harmony One is the company behind the Horizon Bridge, which allows users to Read More © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01How Assad’s downfall could expose secrets of North Korea-Syria military ties 02All the companies that participated in the Pyongyang Autumn Trade Fair 2024 03No Chinese firms joined North Korea’s latest trade fair dominated by Russia 04What defectors’ exam scores reveal about the quality of North Korean health care 05North Korean Il-76 cargo planes make rare flights to northeast coast 06From aid to academia: The status of foreign organizations in North Korea 07North Korea expanding rail access to airport near Wonsan mega resort: Imagery 08Assad’s fall deprives North Korea of a fellow pariah, but its focus is elsewhere

News

North Korea moves millions in crypto as it looks to cash out stolen funds

Expert says hackers will still need to convert gains to cash after transfer of funds linked to Horizon Bridge heist

Ethan Jewell January 17, 2023

North Korea moves millions in crypto as it looks to cash out stolen funds

Physical representations of bitcoin, ethereum and litecoin | Image: Pixabay, edited by NK Pro

North Korea-linked attackers moved millions of dollars of cryptocurrency over the weekend, according to cryptocurrency exchange Binance, in what appeared to be part of efforts to cash out the illicit gains of recent thefts.

The funds were linked to the Horizon Bridge heist, one of North Korea’s largest scores last year.

“We detected Harmony One hacker fund movement,” Binance CEO Changpeng Zhao announced in a tweet Monday. “They previously tried to launder through Binance and we froze [their] accounts.”

Harmony One is the company behind the Horizon Bridge, which allows users to

01How Assad’s downfall could expose secrets of North Korea-Syria military ties
02All the companies that participated in the Pyongyang Autumn Trade Fair 2024
03No Chinese firms joined North Korea’s latest trade fair dominated by Russia
04What defectors’ exam scores reveal about the quality of North Korean health care
05North Korean Il-76 cargo planes make rare flights to northeast coast
06From aid to academia: The status of foreign organizations in North Korea
07North Korea expanding rail access to airport near Wonsan mega resort: Imagery
08Assad’s fall deprives North Korea of a fellow pariah, but its focus is elsewhere

North Korea moves millions in crypto as it looks to cash out stolen funds

LATEST ANALYSIS

Similar Articles

About the Author

Ethan Jewell