Federal Agencies Move Against North Korea’s Cybercrime Profits

The media have reported that the US government has filed yet another lawsuit to recover nearly $2.69 million worth of stolen digital assets from North Korea’s notorious Lazarus hacking group.

It was filed on October 4, 2024, and concerns funds taken from two of the largest cryptocurrency heists in 2022 and 2023: the Deribit hack and the Stake.com hack. 

Court documents indicate that the police are pursuing about $1.7 million from the options exchange Deribit in an incident that resulted in a loss of $28 million, which is the amount of Tether (USDT) that was stolen.

First of all, we have to deal with a lawsuit filed by a North Korean criminal group relating to the 2022 Deribit hack that saw nearly $28 million drained from the hot wallet of the cryptocurrency exchange. 

For covert purposes, the crooks attempted to launder the money through a combination of virtual currency exchanges, the Tornado Cash mixer, and virtual currency bridges as a means of obscuring their identity.

It was thought that the hackers were concealing their actions and laundering the stolen money by using the Tornado Cash mixer and multiple Ethereum addresses that were used by the hackers. 

Avalanche-bridged-Bitcoins (BTC.b) are also being sought by the government as compensation for the loss of revenues from a $4.1 million hacking of the Stake.com gambling platform, which led to a loss of 970,000 Avalanche-bridge

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