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☆ Over 60% of illegal crypto activity is tied to sanctioned groups or terrorist organizations, report finds
▼ + stars: | 2024-02-29 | by ( Dylan Butts | ) www.cnbc.com time to read: +5 min

The American blockchain analysis firm's "2024 Crypto Crime Report" found that $24.2 billion of illicit cryptocurrency was transferred in 2023, based on already identified illicit crypto wallets. Chainalysis retroactively updates its yearly crypto figures when new illicit wallets come to light. watch nowCrypto to avert sanctionsEntities like the crypto "mixer" Tornado Cash and Garantex took the lion's share of illicit funds in 2023. The amount of crypto transferred to sanctioned entities has climbed in recent years in tandem with a greater share of new trade restrictions specifying crypto wallets. Terrorist financingIllicit crypto volume identified by Chainalysis as terrorist financing accounted for a much smaller proportion than that of transactions to sanctioned entities in 2022.

Persons: Andrea Gacki, cryptocurrency, Chainalysis, Andrew Fierman, Garantex, Tornado Cash, Lazarus, Lazarus Group ., Sinbad.io, Chanalysis's Fierman, Tawfiq Muhammad Said Al, Law's, Hayat Tahrir Organizations: Foreign Assets, U.S . Department of, Treasury, Bloomberg, Getty, Hezbollah, CNBC, Tornado, Lazarus Group, U.S . Office, Foreign, Lazarus, National Bureau for, Iran's Quds Force, Al, ISIS, Hayat Locations: New York, Korean, Chainalysis, China, Latin America, North Korea, Iran, Iran's Quds, Syria, cryptocurrency

☆ North Korea crypto hacking activity soars to record high in 2023, new report shows
▼ + stars: | 2024-01-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

The FBI claims North Korea-linked hackers were behind a $100 million crypto heist on the so-called Horizon bridge in 2022. North Korea-linked hackers attacked a record number of crypto platforms in 2023, according to Chainalysis in its latest report on Wednesday. Data collected from 2016 to 2023 showed that North Korea hacked 20 crypto platforms last year — the highest level recorded in that time period, according to the blockchain analytics firm. North Korea-affiliated hackers stole slightly over $1 billion worth of crypto assets last year, which was lower than the record $1.7 billion stolen by North Korea-affiliated hackers in 2022. Another report by blockchain intelligence firm TRM Labs said hackers tied to North Korea stole at least $600 million in crypto in 2023.

Organizations: FBI, North, Lazarus Group, TRM Labs Locations: North Korea

☆ North Korean Hackers, Criminals Share Money Laundering Networks in Southeast Asia - UN
▼ + stars: | 2024-01-15 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

By Tom WilsonLONDON (Reuters) - North Korean hackers are sharing money-laundering and underground banking networks with fraudsters and drug traffickers in Southeast Asia, according to a United Nations report published on Monday, with casinos and crypto exchanges emerging as key venues for organised crime. Funds stolen by North Korean hackers are a key source of funding for Pyongyang and its weapons programmes. The junket sector has been infiltrated by organised crime for "industrial-scale money laundering and underground banking operations," with links to drug trafficking and cyberfraud, the report said. The proliferation of casinos and crypto have "supercharged" organised crime groups in Southeast Asia, UNODC Regional Representative for Southeast Asia and the Pacific Jeremy Douglas told Reuters. "It's no surprise sophisticated threat actors would look to leverage the same underground banking systems and service providers," he said.

Persons: Tom Wilson LONDON, Lazarus, Pacific Jeremy Douglas, Tom Wilson, Tommy Reggiori Wilkes, Angus MacSwan Organizations: United, United Nations Office, Drugs, Korea's, United Nations, North, Casinos, Bangladesh's Central Bank, Lazarus, UNODC Regional Representative, Southeast, Pacific, Reuters Locations: Southeast Asia, United Nations, Myanmar, Thailand, Laos, Cambodia, North, Geneva, United States, Pyongyang, Philippines

☆ US sanctions cryptocurrency mixer Sinbad over alleged North Korea ties
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 29 (Reuters) - The United States on Wednesday imposed sanctions on a virtual currency mixer the Treasury Department said has processed millions of dollars worth of cryptocurrency from major heists carried out by North Korea-linked hackers. Lazarus, which has been sanctioned by the U.S., has been accused of carrying out some of the largest virtual currency heists to date. In March 2022, for example, it allegedly stole about $620 million in virtual currency from a blockchain project linked to the online game Axie Infinity. A virtual currency mixer is a software tool that pools and scrambles cryptocurrencies from thousands of addresses. Those that engage in certain transactions with the mixer also risk being hit with sanctions.

Persons: Lazarus, Wally Adeyemo, Sinbad, Daphne Psaledakis, Kanishka Singh, Paul Grant, Chizu Nomiyama, Paul Simao Organizations: Treasury Department, North, Federal Bureau of Investigation, FBI, United Nations, Blender, Treasury, Thomson Locations: United States, North Korea, heists, U.S, Finland, Netherlands

REUTERS/Kacper Pempel/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 15 (Reuters) - Blockchain researchers say North Korea-linked hackers are likely behind a $70 million theft from crypto exchange CoinEx. Blockchain research firm Elliptic said that "a number of factors" indicate that the Lazarus Group - a hacker group associated with North Korea - was responsible for the attack. Another blockchain research firm, Chainalysis, told Reuters on Thursday it had "medium-high confidence" that North Korea was behind the attack. North Korea stepped up its cryptocurrency theft last year, using sophisticated techniques to steal more in 2022 than any other year, according to a United Nations report. Sanctions monitors have previously accused North Korea of using cyberattacks to help fund its nuclear and missile programs.

Persons: Kacper, CoinEx, Chainalysis, Elizabeth Howcroft, Raphael Satter, Louise Heavens Organizations: REUTERS, Lazarus, Reuters, Lazarus Group, United Nations, United, Thomson Locations: North Korea, Hong Kong, New York, United Nations, Korea

☆ Tornado Cash cryptocurrency co-founders Roman Storm and Semonov indicted for laundering for Lazarus Group
▼ + stars: | 2023-08-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

Roman Semenov, the Russian national, and Roman Storm, were charged with laundering and violating sanctions through Tornado Cash, a crypto “mixer” that allegedly laundered more than $1 billion, including hundreds of millions that went to Lazarus Group, a North Korean cybercrime organization, the indictment alleged. The third co-founder of Tornado Cash, who was unnamed in the indictment, was arrested on money laundering charges in the Netherlands last year, the Treasury said. Tornado Cash is one of the most well-known mixers, and it, along with much of the crypto industry, was under growing regulatory scrutiny. Lazarus Group, the North Korean organization, allegedly used Tornado Cash in April and May 2022, the US attorney’s office said, in violation of US sanctions. The US Department of the Treasury sanctioned Tornado Cash last year, alleging it laundered more than $7 billion worth of crypto since 2019.

Persons: Roman Semenov, “, Damian Williams, Semenov, Storm, Tornado Cash, ”, Brian Klein, “ Mr, ” Klein, Lazarus Organizations: New, New York CNN, Russian, North, Court, Tornado, Lazarus Group, Storm, US, Office, Treasury, DOJ, US Treasury, Korean, US Department of Locations: New York, Washington, Southern, Russian, Roman, Korean, Netherlands

☆ Tornado Cash founders charged with laundering more than $1 billion, including millions for North Korea
▼ + stars: | 2023-08-23 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Two founders of Tornado Cash, the widely known Russian cryptocurrency mixer, have been charged with laundering more than $1 billion in criminal proceeds. Charges in the indictment include conspiring to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money transmitting business. The third co-founder, Alexey Pertsev, who is not mentioned in this action, faces trial in Amsterdam over his involvement with Tornado Cash. Tornado Cash is used by some people as a legitimate way to protect their privacy in the still-nascent crypto market. Using a crypto mixing service like Tornado Cash masks those details by anonymizing the funds and concealing the identity of the buyer.

Persons: Roman, Semenov, Storm, James Smith, Alexey Pertsev, Roman Semenov, Damian Williams, Brian Klein, Waymaker, Klein, Lazarus Organizations: Tornado, Lazarus, Justice Department, CNBC, Tornado Cash, Storm, Federal Bureau of Investigation, Foreign Assets, Lazarus Group, U.S . Treasury, Treasury Department Locations: Russian, Korean, Washington, York, Amsterdam, U.S, Harmony

☆ Exclusive: Record-breaking 2022 for North Korea crypto theft, UN report says
▼ + stars: | 2023-02-06 | by ( Michelle Nichols | ) www.reuters.com time to read: +5 min

North Korea has previously denied allegations of hacking or other cyberattacks. The United States has long been warning that North Korea is ready to carry out a seventh nuclear test. They also said they have started an investigation into reports of ammunition exports by North Korea. North Korea has rejected the accusation as groundless and Wagner's owner, Yevgeny Prigozhin, denied getting arms from North Korea. Last May, China and Russia vetoed a U.S.-led push to impose more U.N. sanctions on North Korea.

☆ Crypto hacks stole record $3.8 billion in 2022, led by North Korea groups - report
▼ + stars: | 2023-02-01 | by ( Josh Smith | ) www.reuters.com time to read: +2 min

The report by Chainalysis found hacking activity that "ebbed and flowed" throughout the year, with "huge spikes" in March and October. October was the biggest single month ever for cryptocurrency hacking, with $775.7 million stolen in 32 separate attacks, the report said. "It isn’t a stretch to say that cryptocurrency hacking is a sizable chunk of the nation’s economy," Chainalysis said. Targets in "decentralized finance" or DeFi, a thriving segment in the cryptocurrency sector, accounted for more than 82% of the cryptocurrency stolen in 2022, the report said. Last year saw a record amount of crypto transactions related to illicit activity overall, reaching $20.1 billion, Chainalysis said in January.

☆ (OFFICIAL) FBI says N. Korea-related hacker group behind U.S. crypto firm heist
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

On Jan. 13, North Korean cyber actors used a privacy protocol called Railgun to launder over $60 million worth of ethereum stolen during the theft in June, the FBI said in a statement. A portion of the stolen ethereum was subsequently sent to several virtual asset providers and converted to bitcoin, the FBI said. The FBI said North Korea's theft and laundering of virtual currency is used to support its ballistic missile and Weapons of Mass Destruction programs. Reuters in June reported that North Korean hackers were most likely behind the attack on Harmony, citing three digital investigative firms. Reporting by Sneha Bhowmik in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ FBI says N. Korea-related hacker groups behind U.S. crypto firm heist
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

Jan 23 (Reuters) - Two hacker groups associated with North Korea, the Lazarus Group and APT38, were responsible for the theft last June of $100 million from U.S. crypto firm Harmony's Horizon bridge, the Federal Bureau of Investigation said on Monday. The FBI said North Korea's theft and laundering of virtual currency is used to support its ballistic missile and Weapons of Mass Destruction programs. Reuters in June reported that North Korean hackers were most likely behind the attack on Harmony, citing three digital investigative firms. Harmony develops blockchains for decentralized finance - peer-to-peer sites that offer loans and other services without traditional gatekeepers such as banks - and non-fungible tokens. Reporting by Sneha Bhowmik in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ North Korea-linked hackers behind $100 million crypto heist, FBI says
▼ + stars: | 2023-01-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The FBI claims North Korea-linked hackers were behind a $100 million crypto heist on the so-called Horizon bridge last year. North Korean-linked actors were behind the theft of $100 million through the hack of a crypto product last year, the Federal Bureau of Investigation said. The FBI also said that the North Korean cyber actors this month used the Railgun system to launder over $60 million worth of the token ether stolen during the June 2022 heist. A portion of the stolen ether was sent to several virtual asset service providers and converted to bitcoin, the FBI said. Last year, the U.S. Treasury Department blamed Lazarus for a $600 million heist on Ronin Network, a so-called "sidechain" for popular crypto game Axie Infinity.

☆ U.S. and Asian allies impose new sanctions on North Korea after ICBM test
▼ + stars: | 2022-12-02 | by ( ) www.nbcnews.com time to read: +4 min

South Korea’s foreign ministry announced sanctions on seven other individuals, including a Singaporean and a Taiwanese, and eight entities. The latest sanctions follow a Nov. 18 ICBM test by North Korea, part of a record-breaking spate of more than 60 missile launches this year. There are also concerns that the country may be about to resume nuclear weapons testing, which has been suspended since 2017. Decades of U.S.-led sanctions have failed to halt North Korea’s increasingly sophisticated missile and nuclear weapon programs. “Targeting senior officials inside North Korea responsible for WMD and missile activities and working with South Korea and Japan are important, but it is an inadequate and symbolic response to 60+ missile tests, including 8 ICBM tests,” said Anthony Ruggiero, who headed North Korea sanctions efforts under former President Donald Trump.

San Francisco-based Twitter did not immediately respond to a request for comment on the security situation at the company. He echoed a pessimistic view among some Twitter users this week: The service might go down entirely under Musk's ownership. Verification serviceOn Friday, Twitter paused the rollout of its Twitter Blue verification service, intended to let users pay $8 a month for a verification badge. “The debacle with the Twitter verification is a really strong indicator as to what can go wrong,” Roger said. “When the verified Twitter users got hacked a few months ago, it was only a bitcoin scam, right?” Rogers said.

☆ U.S. changes sanction reasons on virtual currency service Tornado Cash
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 8 (Reuters) - The U.S. Treasury has broadened its justification for sanctioning virtual currency mixing service Tornado Cash on allegations it supports North Korea, despite criticism from users that the Treasury is targeting a service and not an organization. The move - which a Treasury representative said reflected the service's support for the North Korean government - still leaves Americans unable to send and receive money through the service. But the move had proven controversial in part because some argued that Tornado Cash was less an organization than a set of software. In a lawsuit filed this year, six Texan users of Tornado Cash said that Treasury officials had overstepped their jurisdiction by effectively blocking access to computer code. "Tornado Cash is not a person, entity, or organization.

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