Russian and North Korean Cyberattack Infrastructure Converge: New Hacking Data Raises National Security Concerns

2023-09-14 Chainalysis

https://www.chainalysis.com/blog/north-korea-russia-crypto-money-laundering/

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Chainalysis reported that DPRK-linked hacking groups increased their use of Russia-based exchanges for laundering stolen cryptocurrency, including a $21.9 million transfer from the Harmony Protocol theft to a Russian exchange known for illicit flows. The company said it had evidence of DPRK entities using Russian services for money laundering since 2021, making recovery harder because Russian exchanges and law enforcement are less likely to cooperate with international investigations. The article also tracks North Korea-linked crypto theft at more than $340.4 million in 2023, 29.7% of hacked cryptocurrency for the year, and about $3.54 billion in total stolen cryptocurrency associated with DPRK activity. The key CTI value is the infrastructure shift: stolen funds are moving through less cooperative Russian laundering venues rather than only through mainstream centralized exchanges.

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