{"id":29271,"date":"2024-09-15T12:00:16","date_gmt":"2024-09-15T09:00:16","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29271"},"modified":"2024-09-15T09:44:43","modified_gmt":"2024-09-15T06:44:43","slug":"5m-stablecoins-frozen-in-crackdown-on-lazarus-group","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/5m-stablecoins-frozen-in-crackdown-on-lazarus-group\/","title":{"rendered":"$5M Stablecoins Frozen in Crackdown on Lazarus Group"},"content":{"rendered":"<p>After stablecoin issuers froze the money, which were discovered and tracked in an investigation run under blockchain sleuth ZachXBT, Crypto&#8217;s most infamous hacking organization lost access to around $5 million worth of <strong>stablecoins<\/strong> kept in two wallets.<\/p>\n<p>ZachXBT discovered in his first research\u2014which was supported by staff members from Metamask, Binance, TRM Labs, and Five I&#8217;s LLC\u2014North Korea&#8217;s state-sponsored <strong>Lazarus Group<\/strong> laundered approximately $200 million in crypto into currency over a three-year span. After 25 distinct attacks on many blockchains, the hackers exploited a variety of accounts at peer-to-peer marketplaces to cash out the money.<\/p>\n<p>The research resulted in the issuers of the USDT (Tether), USDC (Circle), TUSD (Techterx), and BUSD (Paxos) freezing about $5 million in <strong>stablecoins<\/strong> belonging to two wallets. Both of the two wallets have not frozen the DAI stablecoin valued at $720,000 or the Ethereum valued at roughly $313,000.<\/p>\n<p><em>&#8220;All four stablecoin issuers (Paxos, Tether, Techteryx, and Circle) have blacklisted the two addresses below with $4.96M from <strong>Lazarus Group<\/strong> as of right now.&#8221; <\/em>ZachXBT noted <a href=\"https:\/\/x.com\/zachxbt\/status\/1834881201326178808\">on X<\/a>.<em> &#8220;Another $1.65M frozen at several exchanges, thereby putting the total frozen from my research to $6.98M.&#8221;\u00a0<\/em><\/p>\n<p>ZachXBT specifically targeted Circle, the USDC issuer, for freezing the tokens for longer than the other stablecoin issuers in posts on X. &#8220;<em>Took Circle 4.5 months longer than the others, but at least everything is frozen now,&#8221;<\/em> a post notes. ZachXBT said in another, <em>&#8220;(Circle has) 1000+ employees yet no incident response team who blocks after a DeFi or <strong>Lazarus Group<\/strong> hack or exploit safeguards the ecosystem.&#8221;\u00a0<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for\u00a0<\/em><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After stablecoin issuers froze the money, which were discovered and tracked in an investigation run under blockchain sleuth ZachXBT, Crypto&#8217;s most infamous hacking organization lost access to around $5 million worth of stablecoins kept in two wallets. ZachXBT discovered in his first research\u2014which was supported by staff members from Metamask, Binance, TRM Labs, and Five<\/p>\n","protected":false},"author":6,"featured_media":29272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1201,5732,488],"class_list":["post-29271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hack","tag-lazarus-hack","tag-stablecoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$5M Stablecoins Frozen in Crackdown on Lazarus Group - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/5m-stablecoins-frozen-in-crackdown-on-lazarus-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$5M Stablecoins Frozen in Crackdown on Lazarus Group - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"After stablecoin issuers froze the money, which were discovered and tracked in an investigation run under blockchain sleuth ZachXBT, Crypto&#8217;s most infamous hacking organization lost access to around $5 million worth of stablecoins kept in two wallets. 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