Analysis Tools of the trade: How North Korea launders billions in stolen cryptocurrencyAfter Bybit hack, Lazarus Group is deploying complex web of tools — from cross-chain conversions to privacy wallets North Korea’s elite cybercriminals are moving fast to cover their tracks after their biggest digital heist yet, once again showcasing their unrivaled skills when it comes to concealing their ill-gotten virtual gains. After a record-breaking $1.5 billion theft from Dubai-based crypto exchange Bybit in February, North Korea’s Lazarus Group almost immediately set its laundering machine supporting the regime’s nuclear ambitions and personal slush funds in motion. After swiftly converting stolen ethereum into other digital currencies, the prolific crypto theft actor turned to their signature playbook: a maze of mixers, virtual wallets and shadowy © Korea Risk Group. All rights reserved. |