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Lazarus Group laundered $200M from 25 crypto hacks to fiat

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Re: Lazarus Group laundered $200M from 25 crypto hacks to fiat

#41

Post by averageRoyalty »

mulmen wrote: post #36
walterbell wrote: post #13

US/Canada 2024, $3 billion in fines by US regulators, https://rupakghose.substack.com/p/td-banks-aml-issues-and-fi... > DoJ investigation found.. [banking] business had been used to launder more than $650m between 2016 and 2021 from US fentanyl sales for Chinese crime groups and drug traffickers. Canada 2018, https://news.ycombinator.com/item?id=33918115 > An estimated $5.3 billion of laundered money into B.C. real e…

Is there any reason to believe the Australian investment is related to money laundering or drug sales?

No. The linked article admits they're wildly guessing and links to another report with recommendations but no numbers I saw from a skim. I hear this repeated regularly on HN but am yet to see a reliable source beyond "but it's Chinese money".

Re: Lazarus Group laundered $200M from 25 crypto hacks to fiat

#42

Post by averageRoyalty »

mattmaroon wrote: post #23

Serious question, if the United States decided to unilaterally cut North Korea off from the Internet, how hard would that be to do? Could we just knock out a few cables? North Korea pretty much only uses the Internet for scams Or to make money in violation of sanctions. They certainly don’t allow their citizens to use it for anything else, and they don’t allow their citizens to leave the country because they would ne…

The land of democracy, ladies and gentlemen. Rights for us, nobody else.

Re: Lazarus Group laundered $200M from 25 crypto hacks to fiat

#43

Post by consumerx »

aaronbrethorst wrote: post #17
paulpauper wrote: post #3

many of these services do not exist anymore (chip mixer) or increased security (sanctions on Tornado cash, more KYC, better chain analysis).

KYC Know Your Customer, for anyone else unfamiliar with the acronym.

KYCing should be illegal.

Re: Lazarus Group laundered $200M from 25 crypto hacks to fiat

#45

Post by zmgsabst »

beeflet wrote: post #19
zmgsabst wrote: post #16

Earlier quoted context omitted.

In much the same way the internet interprets censorship as damage and routes around it, financial networks consider lost opportunity due to regulation as damage and route around it. People will assume I mean buying drugs, but actually, I mean: - when I had $10k in my US bank account but couldn’t access it while traveling because I ran afoul of whatever KYC at Western Union after losing my bank card; or, - today, when…

>In much the same way the internet interprets censorship as damage and routes around it I think this is an outdated meme that has not proven very true. I won't go into a full rant unless you want, but long story short the architecture of the internet has turned out to be more fragile than expected. >Society views the fascistic impulses of those in control stifling innovation and growth as damage Maybe not society as…

What do you mean?

The internet has successfully resisted multiple government-sponsored PSYOPs and allowed the formation of a revolution to fix society from its current trend towards fascism, unifying the liberation movement across continents — which I would argue is working far beyond expectations.

(Ed: I’d genuinely like to hear the rant, even as a tangent.)

> Maybe not society as a whole, but certainly sub-societies do, so yes.

All of society does.

Which is why regulation (and oppression) needs to be focused to be effective: if you want to suppress Lazarus group you can’t catch too many strays or you build up enough societal counter-pressure your regulation is subverted.

Re: Lazarus Group laundered $200M from 25 crypto hacks to fiat

#46

Post by snypox »

bitcoinmoney wrote: post #18
artdigital wrote: post #10

Earlier quoted context omitted.

you still have to do the actual laundering at some point. just because you have $200 million now in monero (which you also need to get to first) doesn't mean you can just transfer them to your bank account. exchanges will KYC you for that, and you will definitely get flagged for a source of wealth / source of funds check to prove where you got it from

It's really easy. Use casinos in 3rd world countries to certify your money as gambling winnings. There must be underground network for this. So it looks like you're gambling and you got lucky. Very dangerous though. I heard that they charge 13% total fee. You come in at 5M$. You play for 1 week.. Leave with 160M or something. Bring that cash into the bank and deposit it.

Aren’t you supposed to show proofs of winning 160m when depositing into a bank? Even for just a few millions?

Re: Lazarus Group laundered $200M from 25 crypto hacks to fiat

#47

Post by Garvi »

mulmen wrote: post #36
walterbell wrote: post #13

US/Canada 2024, $3 billion in fines by US regulators, https://rupakghose.substack.com/p/td-banks-aml-issues-and-fi... > DoJ investigation found.. [banking] business had been used to launder more than $650m between 2016 and 2021 from US fentanyl sales for Chinese crime groups and drug traffickers. Canada 2018, https://news.ycombinator.com/item?id=33918115 > An estimated $5.3 billion of laundered money into B.C. real e…

Is there any reason to believe the Australian investment is related to money laundering or drug sales?

[flagged]

Re: Lazarus Group laundered $200M from 25 crypto hacks to fiat

#49

Post by immibis »

appendix-rock wrote: post #40
mattmaroon wrote: post #23

Serious question, if the United States decided to unilaterally cut North Korea off from the Internet, how hard would that be to do? Could we just knock out a few cables? North Korea pretty much only uses the Internet for scams Or to make money in violation of sanctions. They certainly don’t allow their citizens to use it for anything else, and they don’t allow their citizens to leave the country because they would ne…

Only an American would ever entertain this idea without being at least a bit tongue in cheek about it. The US doesn’t own the Internet.

[flagged]

Re: Lazarus Group laundered $200M from 25 crypto hacks to fiat

#50

Post by immibis »

snypox wrote: post #46
bitcoinmoney wrote: post #18

Earlier quoted context omitted.

It's really easy. Use casinos in 3rd world countries to certify your money as gambling winnings. There must be underground network for this. So it looks like you're gambling and you got lucky. Very dangerous though. I heard that they charge 13% total fee. You come in at 5M$. You play for 1 week.. Leave with 160M or something. Bring that cash into the bank and deposit it.

Aren’t you supposed to show proofs of winning 160m when depositing into a bank? Even for just a few millions?

And a shady third world casino will happily provide that proof document in return for a 13% cut of your winnings.
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