HomeCrypto NewsNorth Korean hackers sent $147.5 million stolen from HTX exchange to Tornado...

North Korean hackers sent $147.5 million stolen from HTX exchange to Tornado Cash: Reuters

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By Angel Di Matteo @shadowargel

As indicated Reuters, the UN discovered that the funds stolen from HTX by North Korean hackers at the end of 2023 were sent to Tornado Cash in March of this year, with which they sought to erase the transaction history of the funds.

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  • The UN discovered that funds stolen from HTX they ended up in Tornado Cash
  • Those responsible, North Korean hackers, sent about USD $147.5 million to the transaction mixer
  • This discovery occurred in the midst of an investigation carried out by the UN
  • North Korea apparently uses these crypto funds to finance weapons programs

Organizations linked to the North Korean government moved around USD $147.5 million through Tornado Cash in March, this in order to try to launder the history of the assets in question.

Funds laundered by North Korean organizations

This is what it indicates a report published by the news agency Reuters, which confirms some data published by the United Nations Organization (UN) in a document presented these days. There they detail that the aforementioned funds come from the hack of the exchange HTX (Huobi), which took place at the end of 2023, and that these funds were moved through Tornado Cash last March to eliminate traces of its transaction history.

As indicated Reuters, The accuracy of these funds was detected by the sanctions supervisors of the UN last week, this amid a much broader investigation into thefts carried out by North Korean hackers. This investigation examines 97 events between 2017 and 2024, which resulted in a total of 3.6 billion in losses to platforms such as exchanges, networks and protocols. DeFi.

In relation to the attacks, these would be perpetrated by North Korean criminal organizations operating from abroad, which steal said funds, launder them and then send them to North Korea, where the regime uses them to finance weapons programs and other initiatives that are subject to sanctions.

The data goes hand in hand with the reports published in March of this year by the UN, which reveal that at least 50% of the income recorded by the North Korean government in foreign currency comes from crypto hacks.

The paper of Tornado Cash

The findings and statements by the UN add more pressure on Tornado Cash, a service used mainly as a transaction mixer to provide greater privacy to cryptocurrency operations, which has already been sanctioned by the US government as it is considered a tool for money laundering.

Specifically, the sanctions come from the US Department of the Treasury Office of Foreign Assets Control (OFAC), which included the addresses managed by Tornado Cash on its blacklist. The measure prohibits public and private entities and US residents from operating through said service, under threat of legal and financial measures if they disobey said ruling.

Beyond the fight against Tornado Cash, US Treasury also issued sanctions against other similar services, such as Sinbad and Blender. Recently, US authorities also took action against Samourai Walletwhose main developers were arrested and appear before local courts.

As for the developers of Tornado Cash, Alex Petsev was sentenced to prison by a Dutch court and will serve more than five years of arrest in the European nation. For his part, Roman Storm continues to fight a legal battle in the US by pleading not guilty to the charges against him and asking for his ongoing case to be dismissed, although his trial is scheduled for September of this year. .


Article by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.

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