North Korean Hackers Attempt to Launder $27M in Ethereum From 2022 Hack

• North Korean hackers have attempted to launder 17,278 ETH, worth $27 million, from the 2022 Harmony Bridge hack.
• ZachXBT, a Crypto Investigative Researcher, reported the attempted laundering via Twitter on January 29th.
• Upon notification from ZachXBT, some exchanges acted quickly and froze part of the stolen assets.

North Korean hackers have recently made an attempt to launder an additional $27 million in Ethereum (ETH) from the 2022 Harmony Bridge hack. On January 29th, Crypto Investigative Researcher ZachXBT reported via Twitter that the hackers had just finished laundering the funds. The funds were reportedly sent to six exchanges using three main wallet addresses.

The Harmony Bridge exploit, which was confirmed to have been carried out by two groups of North Korean government hackers, had already seen a successful laundering of 41,000 Ether ($63.9 million) two weeks prior. This latest attempt to move funds marks the second time that the hackers have made a concerted effort to move funds from the hack.

Upon receiving notification from ZachXBT of the attempted laundering, some exchanges acted quickly and froze part of the stolen assets. However, when asked how much was frozen, ZachXBT refrained from disclosing the amount.

The attempted laundering of the additional $27 million is yet another example of North Korean hackers using cybercrime to generate funds for the country, as well as the lengths they are willing to go to in order to hide their tracks. It also demonstrates the need for more stringent security measures to be put in place by both exchanges and law enforcement agencies, in order to prevent such thefts from occurring in the future.