A BTC Wallet used by North Korean hackers with more than $140,000 locked in it, just transferred 12 BtC from the crypto exchange Huobi and is started moving further so let’s read more in today’s Bitcoin news.
Bitcoin worth around $140,000 was moved from a BTC wallet used by North Korean hackers that were previously linked by a US Department of Justice according to Whale Alert on Twitter. The DoJ filed a civil forfeiture complaint recently against 280 crypto accounts allegedly used by the North Korean hackers to launder more than $3 million of funds stolen into two separate 2019 attacks.
⚠ 12 #BTC (139,465 USD) of forfeited funds transferred from Forfeited North Korean Funds to unknown wallet
— Whale Alert (@whale_alert) August 31, 2020
The complaint explained that the “Chinese OTC traders” from an unnamed exchange helped launder the funds and added that the same individuals managed to launder more funds for North Korea in the $250 million hacks back in 2018. Don Fort, the chief of IRS Criminal Investigation said:
“Despite the highly sophisticated laundering techniques used, IRS-CI’s Cybercrimes Unit was able to successfully trace stolen funds directly back to North Korean actors.”
According to the Twitter bot Whale Alert, 12 BTC were sent today originating from one of the accounts listed in the DOJ’s complaint:
“One of the inputs of this transaction has been listed by the US government as forfeited,” Whale Alert tweeted, adding that “The forfeited address is possibly a Huobi deposit address that received 2.97069728 BTC a few days ago. The address was swept today together with deposits made by other users.”
Whale Alert added that it is now unclear who made the transaction. In the recent crypto news, The hackers from North Korea are suspected to be using untraceable alternative cryptocurrencies to convert funds into cash. The news reports from NK News, which is an unpublished United Nations Panel of Experts report shows that the North-Korean hackers have stolen more than $1.5 billion in crypto and that they were converting a portion of the amount into cash. The hackers transacted funds using privacy altcoins as they are harder to trace and track and moved the stolen assets to regulated crypto exchanges that have minimal customer identification requirements. Another UN report cited by Reuters estimated that the Hackers from North Korea stole more than $2 billion in cash and crypto through cyberattacks in order to fund their nuclear program.
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