2024

United

Tornado Cash

Tornado

United Nations sanctions monitor uncovered evidence of North Korean money laundering involving $147.5 million, facilitated by the virtual platform Tornado Cash in March.&nbsp; 
The monitors’ report shows 97 suspected cyberattacks by North Korea on cryptocurrency companies from 2017 to 2024, totalling $3.6 billion. 
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 NORTH KOREA LAUNDERED $147.5 MILLION IN STOLEN CRYPTO IN MARCH, SAY UN EXPERTS North Korea laundered $147.5 million through virtual currency platform Tornado Cash in March after stealing it last year from a cryptocurrency exchange, according to confidential work by United…— *Walter Bloomberg (@DeItaone) <a href="https://twitter.com/DeItaone/status/1790474957815758870?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 14, 2024</a>
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However, the North Korean hackers are said to have carried out 11 cryptocurrency thefts in 2024 alone, amounting to $54.7 million. These attacks frequently involve North Korean IT workers who were unintentionally hired by small crypto-related companies, giving them access to exploit platforms. 
In 2022, the U.S. government designated Tornado Cash as a sanctions target for allegedly supporting North Korean cybercriminals. Additionally, Alexey Pertsev, the developer of Tornado Cash, was sentenced to 64 months in prison in the Netherlands for money laundering more than $1.2 billion. 
Furthermore, reports indicate that there are still <a href="https://www.cryptotimes.io/2024/05/13/north-korean-hackers-target-crypto-firms-with-durian-malware/" target="_blank" rel="noreferrer noopener">cyber threats</a> from North Korea, with the Kimsuky Group using new malware called Durian to attack South Korean crypto firms.

North Korean Crypto Hacks Total $3.6 Billion, UN Reports

The Crypto Times

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