US recovers cryptocurrency worth $30Mn from Lazarus hackers
By MYBRANDBOOK
More than $30 million worth of cryptocurrency stolen by the North Korea-linked Lazarus Group from online video game Axie Infinity has been recovered. The seizures represent approximately 10% of the total funds stolen from Axie Infinity.
The Lazarus Group is an advanced persistent threat actor 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.
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 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.
Although Tornado Cash has emerged as a popular tool for anonymizing virtual currency transactions, its abuse by malicious actors just like the Lazarus Group to withdraw the illegally obtained assets has landed it in the crosshairs of the U.S. government, which imposed sanctions against the service last month.
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