North Korean hackers Lazarus Group moved $1.2 million worth of their ill-gotten gains from a currency mixer to a holding wallet, marking their largest transaction in more than a month.
Data from blockchain analysis firm Arkham shows that the Lazarus Group wallet received 27,371 bitcoins (BTC) in two transactions before sending 3.34 BTC to a previously used wallet. The currency mixer is not recognized.
In general, a coin mixer, sometimes referred to as a tumbler, is a blockchain-based protocol that can be used to hide ownership of cryptocurrencies by mixing them with coins from other users before redistributing them – so no one can know who got what. The transparency of blockchain typically makes it a straightforward practice to trace the source of cryptocurrencies and their transfers.
The US Treasury has linked the Lazarus Group to the theft of $600 million in cryptocurrency from the Ronin Bridge linked to Axie Infinity.
According to a report released last week from TRM Labs, North Korean hackers were involved in a third of all cryptocurrency exploits and thefts in 2023, pocketing around $600 million.
The Lazarus Group portfolio now contains $79 million worth of Arkham-branded wallets, including $73 million worth of Bitcoin and $3.4 million worth of ether (ETH).
Metamask developer Taylor Monahan said the latest Orbit attack, which resulted in an $81 million loss, followed similar patterns to previous attacks committed by the Lazarus Group.