ICYMI: New report sheds light on how North Korean hackers used Binance to launder stolen funds
A new report from Reuters states that Binance was used to process transactions totaling at least $2.35 billion in illicit funds, including crypto stolen by the North Korean Lazarus group.advertisement
According to the report, the interactions between the exchange and the well-known state-sponsored hacking group are part of a much larger picture of illicit activity. From 2017 to 2021, Binance was used to process transactions totaling at least $2.35 billion associated with hacks, investment frauds and illegal drug sales, Reuters said.
In response to Reuters’ investigation, Binance spokesperson Patrick Hillman claimed that accounts holding nearly $5.8 million used during the Ronin attack have been identified and frozen by Binance’s security team. Referring to the Eterbase attack, Binance stated that “we fully cooperated with requests received from Slovak authorities.”
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