A recent study by Chainalysis has exposed that the notorious North Korean hacking syndicate known as the Lazarus Group has now turned to a new Bitcoin mixer, YoMix, to clandestinely launder stolen cryptocurrency wealth. The illicit crypto laundering actions plummeted from $31.5 billion in 2022 to $22.2 billion, a dip influenced by the disabling of prominent mixers like Tornado Cash and Sinbad.
YoMix Gains Traction Despite Crypto Bear Market
YoMix has witnessed a surge in usage, with its transaction inputs shooting up five times over the past year. Analysts have discovered that roughly one-third of the funds processed by YoMix have originated from wallets linked to cryptocurrency thefts. This shift underlines the Lazarus Group’s persistent quest for new methods to mask their financial tracks, especially after the shutdown of previously favored mixing services.
Furthermore, North Korean hackers have diversified their tactics by employing cross-chain bridges to transfer assets amongst various blockchain networks. These nefarious activities are believed to fund the authoritarian regime’s missile development programs.
Celsius Completes Major Crypto Distribution to Creditors
In related financial news, the bankrupt cryptocurrency firm Celsius has, as per legal documents from Kirkland & Ellis, proceeded with a substantial distribution of $2 billion in digital assets to its creditors. The payout comprised significant quantities of Bitcoin and Ethereum and was facilitated for US creditors via PayPal, while global beneficiaries received theirs through Coinbase.
Indonesia’s Upcoming Leaders Advocate for Crypto Growth
Elsewhere, political shifts in Indonesia hint at a potent future for cryptocurrency in the region. The likely next President Prabowo Subianto, together with his pro-crypto deputy Gibran Rakabuming Raka, son of the present President, are anticipated to ascend to office, potentially augmenting the country’s already robust interest in blockchain and digital currencies. Gibran has publicly voiced his commitment to fostering a generation of blockchain and crypto specialists in Indonesia, which boasts a staggering 18 million crypto investors.