Beautiful Virgin Islands

Tuesday, Jun 03, 2025

U.S. Seizes Cryptocurrency Worth $30 Million Stolen by North Korean Hackers

U.S. Seizes Cryptocurrency Worth $30 Million Stolen by North Korean Hackers

More than $30 million worth of cryptocurrency plundered by the North Korea-linked Lazarus Group from online video game Axie Infinity has been recovered, marking the first time digital assets stolen by the threat actor have been seized.
"The seizures represent approximately 10% of the total funds stolen from Axie Infinity (accounting for price differences between time stolen and seized), and demonstrate that it is becoming more difficult for bad actors to successfully cash out their ill-gotten crypto gains," Erin Plante, senior director of investigations at Chainalysis, said.

The development arrives more than five months after the crypto hack resulted in the theft of $620 million from the decentralized finance (DeFi) platform Ronin Network, with the attackers laundering a majority of the proceeds – amounting to $455 million – through the Ethereum-based cryptocurrency tumbler Tornado Cash.

The March 2022 cryptocurrency heist resulted in losses totaling 173,600 ETH worth about $594 million at the time and $25.5 million in USDC stablecoin, making it the biggest cryptocurrency theft to date.

Although Tornado Cash has emerged as a popular tool for anonymizing virtual currency transactions, its abuse by malicious actors such as the Lazarus Group to cash out the illicitly obtained assets has landed it in the crosshairs of the U.S. government, which imposed sanctions against the service last month.

The blockchain analytics firm said that the blocklisting forced the adversary to move away from the mixer in favor of DeFi services such as crypto bridges to chain hop and move digital assets between chains in a bid to obscure the trail of funds.

"The hacker bridged ETH from the Ethereum blockchain to the BNB chain and then swapped that ETH for USDD, which was then bridged to the BitTorrent chain," Plante said, detailing the switch between several different kinds of cryptocurrencies in a single transaction to launder the stolen funds.

The Lazarus Group is a prolific advanced persistent threat (APT) that's driven by efforts to support North Korea's operational goals, which comprises espionage and generating revenue for the sanctions-hit nation by striking financial institutions. Most of the cyber operations are conducted by elements within the Reconnaissance General Bureau.

The seizure also comes as six users of Tornado Cash, including Coinbase employees, filed a lawsuit this week against the U.S. Treasury Department, Treasury Secretary Janet Yellen, and other officials over their decision to slap sanctions on the platform.

The crypto recovery is also indicative of the headway U.S. authorities have made in their ability to track and seize illicit cryptocurrency funds from various cybercrimes. In late July, the Justice Department announced the seizure of $500,000 worth of Bitcoin from a North Korean hacking crew which extorted digital payments from healthcare facilities by using a new ransomware strain known as Maui.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×