North Korea laundered more than $147 million through Tornado Cash: Details and Reaction
Date: 2024-05-15 Author: Gabriel Deangelo Categories: IN WORLD
UN report on cyber attacks
According to a report by UN special observers, in March 2024, North Korean hackers used the Tornado Cash mixer to launder $147.5 million from the HTX exchange hack. Experts also report 97 attacks from 2017 to 2024, resulting in losses of about $3.6 billion to companies and organizations.
Washing through a mixer
Observers claim that North Korean hackers were able to launder funds using Tornado Cash in March of this year. According to data presented in court documents in the case of Alexey Pertsev, accused of aiding and abetting money laundering, the total amount of funds laundered through the project exceeded $450 million. Tornado Cash developer Pertsev was sentenced to 64 months in prison for his role in the scheme.
Threat of North Korean Cyber Attacks
UN experts note that in 2024 alone, North Korea received $54.7 million as a result of cyber attacks. Many of the attacks were carried out by infiltrating IT specialists into cryptocurrency companies, analysts emphasize.
The court verdict against Pertsev and the UN report indicate the need for more stringent measures to combat cybercrime and protect financial interests in the cryptosphere.
