Lazarus Group’s Funds Previous Exploits Come Together On-Chain

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Lazarus Group’s Funds Previous Exploits Come Together On-Chain
  • Lazarus Group’s funds from previous exploits worth $290 million have come together on-chain.
  • Crypto sleuth ZachXBT shared on-chain data that showed the funds from previous exploits together.
  • The crypto sleuth stated that the funds from such exploits usually end up in OTC traders on Tron.

Lazarus Group, the notorious cybercrime syndicate based in North Korea, is reportedly on the move again. Popular crypto sleuth ZachXBT reported earlier today that the funds from Lazarus’ previous exploits had come together on-chain. This included funds from the Harmony Protocol hack, the Atomic Wallet exploit, the CoinsPaid hack, and the Alphapo hot wallet hack.

The attack on the Harmony Protocol occurred in June 2022 when the Lazarus Group made away with a whopping $100 million. The hackers’ involvement was uncovered earlier this year after they attempted to launder over $60 million worth of Ether using a privacy protocol called RAILGUN.

Last month, the Lazarus Group targeted the DeFi protocol Atomic Wallet and exploited it to the tune of over $100 million. Blockchain analytics firm Elliptic was the first one to identify the North Korean cybercrime group’s involvement in the hack.

More recently, the crypto payment ecosystem Coinspaid fell victim to the Lazarus Group after its internal systems were hacked. Coinspaid lost more than $37 million in the exploit. Earlier this month, fellow crypto payment platform Alphapo suffered a similar fate after the Lazarus Group drained more than $31 million from the Alphapo Hot Wallet.

ZachXBT told his followers earlier today that the total losses from these hacks were estimated to be more than $290 million. The on-chain sleuth’s analysis showed a link between the funds from the Coinspaid hack and the Harmony exploit, involving a transfer of over 54 ETH. Furthermore, a crypto wallet ending in 0b11 received over 3900 USDT from the wallet containing the funds stolen from Harmony.

The correlation was furthered after the 0b11 wallet sent 0.16 ETH to another wallet ending in a656, which previously received 21.14 ETH from the funds taken from Atomic Wallet. ZachXBT added that these funds usually ended up in OTC trades on Tron.

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