North Korea's Crypto Laundering Revealed and Investigated by the UN
North Korea's Crypto Laundering Exposed
The United Nations has uncovered the laundering of $147.5 million in stolen cryptocurrency by North Korea through Tornado Cash. This exposes flaws in international sanctions enforcement and sheds light on how the funds were used to support prohibited nuclear activities. The investigation also reveals the extent of cyberattacks carried out by North Korea on cryptocurrency firms, with total attacks amounting to $3.6 billion over seven years.
Major Cyberattack and Laundering Incident
North Korea's Lazarus group stole $112.5 million in cryptocurrency from the HTX exchange and HECO cross-chain bridge. Perpetrators laundered over $100 million from the hack through Tornado Cash to conceal the transaction path since March 13, 2024.
- UN investigation finds $3.6 billion total value in cyberattacks by North Korea.
- US imposes sanctions on Tornado Cash for aiding hackers launder $7 billion since 2019.
North Korea's use of cryptocurrency mixers exposes a significant loophole in international sanctions enforcement, allowing the nation to fund banned nuclear and missile programs. The arrest of Alexey Pertsev, developer of Tornado Cash, also added a twist to the controversy surrounding the laundering scheme.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.