Secret UN report exposes Lazarus Group’s $147.5 million in stolen crypto to North Korea

A secret United Nations report obtained by Reuters shows that North Korea's notorious cybercriminal group Lazarus Group transferred millions of stolen cryptocurrency to the Asian country last year.

In March 2023, these North Korean hackers illegally stole $147.5 million worth of cryptocurrency from HTX, a crypto exchange owned by TRON founder Justin Sun. A year later, they transferred the money to a neutral country using the authorized crypto mixer Tornado Cash.

North Korea's cyber war

According to a report last week, the inspectors told the United Nations Security Council (UNSC) sanctions committee that they investigated 97 suspected North Korean cyberattacks between 2017 and 2024, worth an estimated $3.6 billion.

According to data from United Nations member countries and private companies, North Korean IT workers in foreign countries earn the highest income for their country. They were also looking at a New York Times report from February 6 that Russia released $9 million of $30 million in frozen North Korean assets and allowed Pyongyang to open a Russian bank account in South Ossetia, allowing better access. to international banking networks.

The Lazarus Group and other North Korean hackers have carried out some of the most lucrative hacks in the crypto and DeFi sectors, and Tornado Cash has become a taster of their exploits.

In the year In 2022, the US imposed sanctions on Tornado Cash over alleged aid to North Korea. In the year In 2023, two of its co-founders were charged with facilitating more than $1 billion in money laundering, including to a cybercrime group with ties to North Korea.

North Korea Various Targets in $1B Crypto Theft.

An earlier report by the UNSC claimed that 50% of North Korea's foreign exchange earnings came from cyber attacks. The country In 2023, she expanded the target of cryptocurrency platforms, hit more than ever.

However, the total amount stolen was lower than in 2022, according to Chinalysis. Despite this decrease, the number of hacks has reached a record high of 20, which coincides with the general collapse in the crypto market.

In the year By 2023, Blockchain Analytics estimates that the total amount of stolen cryptocurrency will exceed $1 billion. In particular, North Korean hackers focused on DeFi, stealing nearly $429 million in the process. They also targeted centralized services, money exchanges, and wallet providers, stealing $150 million, $330.9 million, and $127 million, respectively.