• North Korean hackers allegedly laundered another tranche of funds stolen last year from Harmony’s Horizon Bridge.
• The hackers allegedly moved 11,304 Ethereum (ETH) over the weekend, worth approximately $17.7 million.
• Crypto investigator ZachXBT claims the funds were consolidated into two primary addresses before being sent to six different crypto exchanges.
According to a self-styled crypto investigator going by the social media moniker ZachXBT, actors allied to the Democratic People’s Republic of Korea (DPRK) have laundered another tranche of funds stolen last year from Harmony’s Horizon Bridge. Over the weekend, the hackers allegedly moved 11,304 Ethereum (ETH) worth approximately $17.7 million.
The crypto analyst claims that the rogue state, or people acting on its behalf, consolidated the stolen funds into two primary addresses before sending them to six different crypto exchanges. He then added that he had discovered another address with 5,974 ETH worth $9.4 million, bringing the entire haul laundered over the weekend to 17,278 ETH with a market value of $27.1 million.
At the time of writing, ZachXBT had mapped out 895 bitcoin (BTC) withdrawals to 14 addresses from the exchanges. At current rates, the BTC withdrawn by the hackers is worth about $20.6 million. This is not the first time the Lazarus Group, the team reportedly behind the $100 million Harmony Bridge hack, has allegedly laundered funds. On Jan. 15, the same crypto investigator claimed that the hackers had moved 41,000 ETH worth $63.5 million.
The hackers reportedly laundered the money through Railgun, a privacy and anonymity protocol. It is unclear at this time if the six exchanges that received the ETH over the weekend have taken any action to freeze the funds or if the hackers have been able to withdraw any of the ETH. It is also unclear if the funds were used to purchase any other digital currencies or if they were sent to any other crypto exchanges.