Reuters reports that North Korean hacking collective Lazarus Group has laundered more than $150,000 worth of cryptocurrency to leading Cambodian currency exchange, payments, and remittance service provider Huione Pay between June 2023 and February 2024.
Such proceeds have been obtained by Lazarus Group from separate cryptocurrency heists against Atomic Wallet, Alphapo, and CoinsPaid, which was reported by the FBI to have resulted in the theft of almost $160 million.
Huione Pay denied any knowledge of indirect receipt of the illicit funds but TRM Funds confirmed Huione Pay as one of the recipients of the bulk of cryptocurrency assets stolen from Atomic Wallet.
"This majority of funds were converted to USDT on the Tron blockchain, and appeared to be sent to exchanges, services, and OTC — one of which, was Huione Pay," said TRM Labs. Such an incident has prompted the National Bank of Canada to commit to conducting corrective actions against the payments firm, which has not been allowed to engage in cryptocurrency trading.
