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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

#61

Post by SpicyLemonZest »

yieldcrv wrote: post #52
wmf wrote: post #28

Earlier quoted context omitted.

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

I don't see what's dumb about it. It seems like blacklisting is the digital equivalent of "I don't want to do business with criminals" - I wouldn't knowingly buy anything from a thief, or from a store that knows some of its suppliers are thieves. If law enforcement has seized the property and auctioned it, then the criminals aren't profiting, so I don't mind.

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

#62

Post by zaphirplane »

shakna wrote: post #58
Garvi wrote: post #47

Earlier quoted context omitted.

[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-...

My interpretation is that the parent is referring to the link between Chinese realestate buyers in Australia and criminal activity. It’s almost subliminal how the conversation shifted

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

#64

Post by Terr_ »

willcipriano wrote: post #57
phoenixreader wrote: post #55

Earlier quoted context omitted.

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

What makes you think the same equipment would have the necessary mechanics and capacity for realtime mass-filtering?

Even in America, I imagine there are many other budget priorities competing for a limited spook-fund, that would displace a "national censor-wall but indefinitely inactive and secret just in case we need it someday."

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

#65

Post by snypox »

immibis wrote: post #50
snypox wrote: post #46

Earlier quoted context omitted.

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.

I still think you’d get under an investigation (at least from the tax authorities, but I can imagine police too) after years of years consistently depositing millions of wins in your bank account.

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

#66

Post by jbkkd »

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…

Someone did it a while ago:

https://www.wired.com/story/north-korea-hacker-internet-outa...

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

#67

Post by Dalewyn »

ToucanLoucan wrote: post #37
Dalewyn wrote: post #33

Earlier quoted context omitted.

First consider that the internet was designed to withstand and endure attacks upon it. So long as at least one connection remains, the nodes thereof remain accessible. Next, consider that the authority of US sovereignty ends at US borders. The US legally cannot unilaterally do anything to anything outside of its own borders. Next, consider that both North Korea and more importantly China have no damns to give about w…

> First consider that the internet was designed to withstand and endure attacks upon it. So long as at least one connection remains, the nodes thereof remain accessible. Tell me you haven't worked in network infrastructure without telling me you haven't worked in network infrastructure. > Next, consider that the authority of US sovereignty ends at US borders. The US legally cannot unilaterally do anything to anything…

>Tell me you haven't worked in network infrastructure without telling me you haven't worked in network infrastructure.

Am I wrong, though?

>I mean, sure, officially, when all laws are followed and in a friction-less plane this is correct. However the United States does all kinds of shit unilaterally outside it's own borders, literally all the time,

You can just say we went and blew up Nordstream, you know.

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

#68

Post by lottin »

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…

> Society views the fascistic impulses of those in control stifling innovation and growth as damage

You think society sees financial regulations as fascistic impulses that stifle innovation? Where do you get that from?

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

#69

Post by helsinkiandrew »

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…

> any exchange willing to trade for those amounts do KYC and follows AML?

Binance paid U.S. regulators a $4.3 billion for violating U.S. anti-money laundering laws a year ago. There are many crypto exchanges that have poor KYC or deliberately do it in a way that can be circumvented - Bitzlato was one example. I imagine if you have some dirty Bitcoin you can find an exchange today running in a non extraditable jurisdiction that will trade it for cash for cut.

https://www.reuters.com/technology/co-founder-seized-crypto-...

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