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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

#51

Post by immibis »

zmgsabst wrote: post #16
echelon wrote: post #5

Earlier quoted context omitted.

> makes you wonder how many cryptocurrency influencers are in the pocket of sanctioned nations That's a wild thought that hadn't occurred to me. With increased KYC and tamp down, where does this money go next?

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…

OpenAI isn't the government - yet.

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

#52

Post by yieldcrv »

wmf wrote: post #28
__MatrixMan__ wrote: post #12

This is impressive analysis, but have I overlooked the laundering part? Money laundering is providing an explanation about why it is clean, not hiding the reason that it might be dirty.

Most of the crypto world operates on "assumed clean" (blacklist) thinking so you don't have to fully clean anything.

and when the crypto passes through a government’s address it magically becomes clean :))

so the whole blacklist concept is dumb because the same funds have to be reset, but the old chains of transactions are still being passed around as if its a “gotcha” but theyre really irrelevant quickly and reintegrated back into the economy quickly

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

#53

Post by yieldcrv »

CaptainOfCoit wrote: post #7
talldayo wrote: post #2

I'd imagine it's pretty easy, too. You've already got the assets in a poorly-accountable and liquid state - now all you need is a chump to unload the bag on. Almost makes you wonder how many cryptocurrency influencers are in the pocket of sanctioned nations...

> I'd imagine it's pretty easy, too. You've already got the assets in a poorly-accountable and liquid state Alright, so walk me through it because I don't see how it's easier to wash than other ill-gained funds like cash. You robbed someone and now you sit on $200M worth of Bitcoin. How you unload them so you have cash you can use, when every transaction is traceable and any exchange willing to trade for those amount…

with clean funds launch a new token and create a liquidity pool on uniswap

with another set of clean funds in a second address you buy that token in the liquidity pool

with the dirty funds in the third address you also buy the token and dont stop buying, you use all the dirty funds

the second address sells, and you just are another lucky crypto trader with another 10,000% gain, indistinguishable from any other crypto that’s mooned that much. You, along with all the bots and copy traders and momentum buyers. Just sell into liquidity, withdraw the more liquid crypto on exchanges. Pay taxes.

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

#54

Post by asynchronous »

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…

It’s a dumb question simply because we know most North Korean cyber agents are working abroad- they literally live in China or somewhere else and setup infrastructure elsewhere to remote into.

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

#55

Post by phoenixreader »

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 Chinese government had built the infrastructure for the Great Firewall, allowing them to block whoever they want. The US does not have this capability.

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

#56

Post by shakna »

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?

The FATF report goes into it in more detail [0], but to put it very simply - Australia doesn't have the protections it should, when it comes to money laundering.

[0] https://www.fatf-gafi.org/content/dam/fatf-gafi/mer/Mutual-E...

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

#57

Post by willcipriano »

phoenixreader wrote: post #55
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 Chinese government had built the infrastructure for the Great Firewall, allowing them to block whoever they want. The US does not have this capability.

You certain all those devices in black rooms[0] like Room 641A[1] are entirely passive? I'm not.

[0]https://en.wikipedia.org/wiki/Black_room

[1]https://en.wikipedia.org/wiki/Room_641A

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

#58

Post by shakna »

Garvi wrote: post #47
mulmen wrote: post #36

Earlier quoted context omitted.

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

[flagged]

No. Australia's national money laundering assessment [0] is not virtue signalling as a cover for racism. There's a history of money laundering for terrorism, child exploitation, slavery, and drug trafficking. There's also a history of arrests, and government task force projects to try and change that.

[0] https://www.austrac.gov.au/business/how-comply-guidance-and-...

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

#59

Post by [deleted] »

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.

[deleted]

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

#60

Post by bboygravity »

immibis wrote: post #49
appendix-rock wrote: post #40

Earlier quoted context omitted.

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]

Yeah, except not really.

You might want to have a look at the political history of Iran. lol

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