Hackers from North Korea have sent around US$52.46 million worth of cryptocurrencies to digital asset exchanges in South Korea since 2019 in an effort to evade sanctions or to launder the money, said Yoon Han-hong, a South Korean lawmaker, on Wednesday. Yoon, a member of the ruling People Power Party, cited an investigation by New York-based blockchain data firm Chainalysis and had requested this report. The data may help substantiate rising suspicions that hackers in the Democratic People’s Republic of Korea (DPRK), the official name of North Korea, were laundering funds through exchanges of South Korea, local media reported. “The total amount of fund inflow [into exchanges in South Korea and overseas] from North Korean hacker groups has been constantly growing,” said the Chainalysis report that Yoon provided to Forkast. The blockchain data firm, which has worked with the U.S. Federal Bureau of Investigation (FBI) and Europol in tracking the criminal use of cryptocurrencies, revealed it had identified the amount by tracing multiple intermediary deposit addresses that have been exposed to crypto wallets that belong to DPRK hackers.
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