The North Korean cybercrime group is credited with some of the biggest crypto hacks, including the $600 million Ronin bridge exploit.
A China-based over-the-counter (OTC) trader has allegedly laundered tens of millions of dollars worth of stolen crypto for the infamous North Korean Lazarus Group, the hackers behind some of the biggest cryptocurrency hacks.
Chinese OTC trader Yicong Wang has been converting stolen cryptocurrencies to cash on behalf of the Lazarus Group through bank transfers since 2022, according to popular onchain analyst ZachXBT.
The trader was revealed by one of ZachXBT’s followers who had his account frozen after completing a peer-to-peer transaction with Wang, wrote ZachXBT in an Oct. 23 X post:
