Lazarus Group Exploits Cryptocurrency Bridges for Money Laundering – Coincu

Recognized on-chain detective ZachXBT revealed potential illicit activities by North Korean hacker groups laundering money through cross-chain bridges, impacting the crypto market.

These findings highlight vulnerabilities in bridge infrastructure, prompting calls for stricter security measures among exchanges and developers.

ZachXBT Unveils North Korean Bridge Exploits

ZachXBT, an acclaimed on-chain investigator, has reported that apparent “record usage” of cross-chain bridges is linked to North Korean hacker activities laundering stolen funds. Pointing to transactions involving notable sums, the detective illustrated how these illicit movements are masked through complex on-chain jumps. The Lazarus Group is believed to be capitalizing on these protocols following exploits like the FBI identification of a $41 million theft.

Reacting to the report, industry stakeholders are urging improved bridge security measures to prevent further illicit uses. Exchanges like BitoPro are enhancing security protocols after being implicated in suspicious fund flows. Their efforts include activated emergency responses and the commissioning of cybersecurity investigations in collaboration with third-party experts.

Community responses were swift, with high-profile figures backing ZachXBT’s investigative work. Ex-Binance CEO Changpeng Zhao cited past initiatives in freezing hacker accounts, showcasing collaboration with platforms like Huobi to hinder laundering attempts, arguably supporting a safer DeFi environment.

“The stolen funds were then deposited to Tornado or bridged to Bitcoin via Thorchain and deposited to Wasabi.”

— ZachXBT, On-chain Detective, Independent Investigator

Ethereum Price Surges Amidst Security Oversight Concerns

Did you know? Cross-chain bridges have become a popular target for cybercriminals due to their complex transaction mechanisms.

Ethereum’s (ETH) price as of June 3, 2025, stands at $2,601.54, representing a 4.38% increase over 24 hours. Its market cap is valued at $314.07 billion, with a 9.48% market dominance. A notable 51.83% rise in 24-hour trading volume indicates heightened activity, as reported by CoinMarketCap.

Coincu experts suggest that heightened monitoring and enhanced technological safeguards are necessary to shield cross-chain bridges from misuse. Without such measures, the perpetual threat of laundering could continue to distort usage statistics and undermine market reliability.