• DPRK linked hackers have laundered approximately $17.7 million worth of Ethereum (ETH) from Harmony Bridge.
• The rogue state allegedly consolidated the stolen funds into two primary addresses before transferring them to six different crypto exchanges.
• Crypto investigator ZachXBT discovered another address with 5,974 ETH worth $9.4 million, bringing the total laundered to 17,278 ETH with a market value of $27.1 million.

The Democratic People’s Republic of Korea (DPRK) is once again making headlines, this time in the cryptocurrency world. Self-styled crypto investigator ZachXBT claims that actors allied to the DPRK have laundered another tranche of funds stolen last year from Harmony’s Horizon Bridge.

According to ZachXBT, the hackers moved 11,304 ethereum (ETH) over the weekend, valued at approximately $17.7 million. The rogue state allegedly consolidated the stolen funds into two primary addresses before transferring them to six different crypto exchanges. In addition, ZachXBT discovered another address with 5,974 ETH worth $9.4 million, bringing the total laundered to 17,278 ETH with a market value of $27.1 million.

The DPRK linked hackers also withdrew 895 bitcoin (BTC) from the exchanges. At current rates, the BTC withdrawn by the hackers is worth about $20.6 million. This is not the first time the Lazarus Group, the team reportedly behind the $100 million Harmony Bridge hack, has laundered funds. On Jan. 15, the same crypto investigator claimed that North Korea’s Lazarus Group had moved 41,000 ETH worth $63.5 million. The hackers allegedly laundered the money through Railgun, a privacy and anonymity protocol.

It is unclear what the fate of the stolen funds will be, but it is a reminder of the dangers posed by the DPRK, both in the cryptocurrency world and the real world. As the crypto space continues to grow and become more mainstream, it is important for investors to be aware of these risks and take the necessary precautions.