Under the Radar: North Korean Hackers Launder Millions in Crypto Through Sanctioned Mixer

North Korean hackers affiliated with the Lazarus Group have laundered $13 million worth of ether through the sanctioned crypto mixer Tornado Cash this week, according to data from Elliptic, a blockchain analytics company. The stolen funds, part of the $100 million cryptocurrency haul from the HTX exchange and its HECO cross-chain bridge in November 2023, were laundered through 40 transactions into Tornado Cash on March 13 and 14. Despite US sanctions on Tornado Cash, the service continues to be utilised for moving stolen crypto, as its decentralised nature makes it difficult for authorities to shut down. The Lazarus Group, known for orchestrating hacks totaling over $3 billion in the past six years, employs various tactics such as posing as venture capital firms and banks to steal cryptocurrency and targeting individuals with access to private keys. Despite efforts to disrupt their operations, the group persists in their cybercriminal activities, underscoring the ongoing challenges of combating sophisticated hacking organisations.