ZachXBT, revealed seven wallet accounts containing 891.13 bitcoin, linked to the notorious North Korean hacker group Lazarus.
ZachXBT, an investigator on the blockchain, disclosed seven wallet accounts that contained 891.13 bitcoin. These addresses have connections to the notorious North Korean hacker outfit known as Lazarus.
The crypto investigator disseminated the addresses found on X on May 21st. The results of the blockchain sleuth’s investigation into the hacker gang, which led to the authorities freezing digital assets worth $3.8 million, are as follows.
ZachXBT’s identified cryptocurrency wallets continue to store the amounts reported by the cryptocurrency investigator as of the writing of this article.
ZachXBT conducted a thorough investigation on April 29 into how the state-supported hacking organization laundered $200 million from over 25 hacks that took place between 2020 and 2021.
The investigation’s findings show that the hackers used peer-to-peer (P2P) markets and crypto-mixing services to convert the stolen cryptocurrency into fiat money.
ZachXBT claims that money laundering activities totaling at least $44 million took place on the Paxul and Noones P2P marketplaces. The trading volumes and deposits displayed by the usernames “EasyGoatfish351” and “FairJunco470” matched the amounts taken.
ZachXBT’s investigation also showed that they converted the stolen digital assets into Tether before taking them out of circulation and converting them into fiat currency.
After the Lazarus Group had been idle for a considerable amount of time, they resumed their activities earlier this year. They shifted $1.2 million worth of stolen digital assets from a mixer on January 8 and transmitted some of the funds to a wallet that was inactive.
This was the responsibility of North Korean hackers. Experts assessed that two separate transactions from a cryptocurrency mixer resulted in the transfer of 27.37 bitcoins, valued at a total of $1.2 million at the time.
Following the cash withdrawal, the hackers sent 3.343 bitcoins, totaling $150,582, to an address they had previously used.
On April 24, researchers discovered that hackers were using LinkedIn, a professional social media platform, to launch malware attacks against users who were susceptible to their attacks.
Slowmist, a blockchain security company, reported the incident, claiming that hackers from the Lazarus Group were applying for blockchain developer jobs within the cryptocurrency ecosystem in order to gain access to confidential employee credentials.
Even today, the Lazarus Group remains one of the most notorious criminal organizations that are focusing their attention on the cryptocurrency industry.
The group stole digital assets worth more than three billion dollars in the six years leading up to 2023.In 2022, the theft of $1.7 billion will surpass North Korea’s total annual income from exports by approximately ten.