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In response to governments taking action to prevent <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">money</a> laundering and financing of terrorism through cryptocurrencies, crypto exchanges, companies, and protocols have started implementing strong measures. At this point, crypto mixers, which are the places where malicious actors, especially those who resort to laundering stolen cryptocurrencies, play a significant role. FixedFloat, one of the leading crypto mixers, reported that a money laundering attempt by the North Korean hacker group Lazarus was thwarted in the past three days, and hundreds of thousands of dollars worth of cryptocurrency were frozen. 
<h2 style="text-align: justify" id="strong-2-million-worth-of-cryptocurrency-belonging-to-lazarus-frozen-strong">$2 Million Worth of Cryptocurrency Belonging to Lazarus Frozen</h2> 
<a href="https://en.coin-turk.com/the-underground-report-of-cryptocurrencies-how-blockchain-protects-governments-and-society/" data-wpel-link="internal">Crypto</a> mixer FixedFloat announced that it successfully prevented a money laundering attempt related to the North Korean hacker group Lazarus, known for its major hacking attacks, after three days of coordinated efforts by the team. In an announcement made on FixedFloat’s official X (formerly known as Twitter) account, it was stated that approximately $2 million worth of cryptocurrency, which Lazarus tried to launder, was frozen. 
<img decoding="async" class="aligncenter size-full wp-image-273364" src="https://coin-turk.com/wp-content/uploads/2023/11/Kripto-Mikseri.jpeg" alt="" width="1280" height="853"> 
In 2022, when the US Treasury Department added Tornado Cash, a crypto mixer service used to launder over $7 billion in cryptocurrency since its establishment, to the sanction list, crypto mixers became a topic of discussion. While Tornado Cash being included in the sanction list led many crypto mixers, large and small, to cease their operations, platforms like FixedFloat are trying to stay afloat by taking their own precautions. 
<h2 style="text-align: justify" id="strong-what-is-a-crypto-mixer-strong">What is a Crypto Mixer?</h2> 
A crypto mixer, also known as a crypto blender, is a tool or service used to reduce or conceal the traceability of cryptocurrencies (such as <a href="https://coin-turk.com/bitcoin-fiyati-ile-birlikte-btc-hacminde-de-rekor-kirildi" data-wpel-link="internal">Bitcoin</a>) transactions. <a href="https://en.coin-turk.com/south-koreas-national-police-agency-set-to-enhance-crypto-surveillance-with-new-system/" data-wpel-link="internal">Cryptocurrencies</a> record all transactions in a publicly accessible ledger called the <a href="https://coin-turk.com/cin-hukumetine-gore-bitcoin-blockchaini-geride-kaldi" data-wpel-link="internal">Blockchain</a>, and these transactions are generally traceable. Crypto mixers are tools that help users make their crypto transactions more private. The operation of a crypto mixer generally consists of the following three steps: 
<ul style="text-align: justify"> 
 <li>Users send their cryptocurrencies to the crypto mixer.</li> 
 <li>The crypto mixer mixes these currencies as if they were obtained from different sources and sends them to different accounts.</li> 
 <li>As a result, tracking the cryptocurrencies becomes more difficult because their origin or destination becomes more complex.</li> 
</ul> 
Crypto mixers can be useful when users want to enhance their privacy or make it harder to trace their cryptocurrencies. However, such services are sometimes used for illegal activities, such as hiding illicit activities or money laundering, and are therefore closely monitored by regulators. Continue Reading: <a href="https://en.coin-turk.com/fixedfloat-prevents-money-laundering-attempt-by-lazarus-freezes-2-million-worth-of-cryptocurrency/" data-wpel-link="internal">https://en.coin-turk.com/fixedfloat-prevents-money-laundering-attempt-by-lazarus-freezes-2-million-worth-of-cryptocurrency/</a>

FixedFloat Prevents Money Laundering Attempt by Lazarus, Freezes $2 Million Worth of Cryptocurrency

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