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Crypto theft

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Aswin Pyakurel

According to some sources, here are some of the steps that Lazarus Group used to launder their stolen funds:

- They used **virtual currency mixers** such as Blender² to obscure the origin and destination of their cryptocurrency transactions².

- They transferred some of their funds to **decentralized exchanges** such as Uniswap² where they could swap them for other tokens without identity verification or KYC requirements.

- They moved some of their funds to **over-the-counter brokers** who act as intermediaries between buyers and sellers of cryptocurrency without disclosing their identities or transactions.

- They also used **layer 2 solutions** such as Ronin Bridge³ which allow faster and cheaper transactions on a secondary network that is connected to the main blockchain. 

However, not all of their laundering attempts were successful. Some of their funds were traced and seized by law enforcement agencies such as Økokrim in Norway³. Some of their funds were also frozen or returned by exchanges that detected suspicious activity on their platforms.


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