ZachXBT Reveals Lazarus Group’s $200 Million Crypto Cash-Out Around A few Years

Hey there, curious minds! Dive into the intriguing exploration of the infamous Lazarus Team by on-chain detective ZachXBT. This hacking group from North Korea has still left a trail of mysteries and significant crypto thefts in its wake.
Unraveling a saga of 25 hacks spanning from 2020 to 2023, Lazarus managed to siphon off a whopping $200 million from the crypto environment into conventional fiat forex.

Observe the Crypto Income Path of $200 Million

Delve into ZachXBT’s meticulous research, in which he delves into various six-determine wallet hacks, like incidents at popular crypto exchanges like Coinberry and CoinMetro. The drama unfolds with $370,000 in Bitcoin and Ether pilfered from Coinberry, and a hefty $750,000 snatch from CoinMetro in 2020.
Check out carefully as the cash from these exchanges converge into just one address in January, making a discreet exit by way of the privacy-centric Twister Money on Ethereum. In spite of the cloak of anonymity, ZachXBT managed to trace the funds, furnishing a gripping narrative of the electronic cat-and-mouse chase.
Witness the intrigue as the ill-gotten gains merge with money from other Lazarus heists, inevitably getting their way to P2P crypto platforms camouflaged as Tether (USDT).

“Exciting updates from ZachXBT reveal freezing of USDT and other property in late 2023, shedding gentle on the elusive path,” shared the investigator on Twitter.

The Chinese Link by means of OTC Desks

Zooming into Lazarus’ strategic moves, we uncover transfers to Wu Huihui, a China-centered OTC trader. The plot thickens as the Department of Justice cracked down on Wu in 2023 for alleged involvement in facilitating payments for the DPRK.
Learn the historical route taken by Lazarus by Chinese OTC traders to convert their crypto spoils into tangible fiat currency.
In a chilling finale, ZachXBT hints at the escalating affect of Lazarus Team assaults on the crypto neighborhood, with thousands emotion the ripples of their nefarious functions.
A preceding review by Elliptic in 2023 pinned about $300 million well worth of crypto misdeeds on Lazarus, with their wallets still holding a substantial $47 million in crypto assets as of September.