Kim Jong Un's North Korea-Linked Cyber Hackers Launder $13M In Ethereum Despite US Sanctions: Report
Portfolio Pulse from Ananya Gairola
North Korean hackers, linked to the Lazarus Group, laundered $13 million in Ethereum through Tornado Cash, a cryptocurrency mixer sanctioned by the U.S. This act is part of North Korea's broader strategy to fund its illicit activities, including its nuclear weapons program, through cybercrime. Despite U.S. sanctions, Tornado Cash remains operational due to its decentralized nature. The laundered funds were part of $100 million stolen from the HTX exchange in November 2023.
March 16, 2024 | 3:40 am
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The laundering of $13 million in Ethereum by North Korean hackers could potentially impact Ethereum's reputation and investor sentiment in the short term.
The involvement of Ethereum in a high-profile laundering case linked to North Korean cybercrime could lead to negative perceptions among investors and the public. This might result in short-term bearish sentiment towards Ethereum, as investors may become wary of potential regulatory crackdowns or negative publicity.
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