The post Circle Accused Of Cashing In On Lazarus Group Cyberattack appeared on BitcoinEthereumNews.com.

According to blockchain investigator ZachXBT, Circle had been making money from transactions in line with the notorious North Korean hacking group Lazarus Group, a severe accusation lodged against the company. The allegation comes after an incident in which Circle took more than four months to delay its blacklisting of funds associated with the group–more than a full duration longer than that taken by other major stablecoin issuers. ZachXBT used social media to vent his resentment by drawing attention to Circle’s overall platform-wide failing in their fight against money laundering. He said: “Not once have you ever blacklisted after a DeFi exploit/hack when there was ample time, while you continue to profit off the transactions.” The Lazarus Group Hack The Lazarus Group was also seen as responsible for the recent hack of the Indonesian crypto exchange Indodax, which occurred on 11 September. This hack has resulted in the theft of over $20 million from this exchange, leaving it temporarily closed down to assess damage suffered. Fuck Circle Fuck @jerallaire you do not care at all about the ecosystem except extracting from it. Not once have you ever blacklisted after a DeFi exploit / hack when there was ample time while you continue to profit off the transactions. You took 4.5 months longer than every… https://t.co/9TFn11UERU — ZachXBT (@zachxbt) September 14, 2024 Once fully investigated, Indodax had opened itself up to further services, gradually resuming deposit and withdrawal services, as well as staking services. ZachXBT reported that four stablecoin issuers, including Tether, Circle, Paxos, and Techteryx, have blacklisted two addresses associated with the Lazarus Group, which hold a combined $4.96 million in various stablecoins. Source: ZachXBT Apart from the frozen blacklisted funds, the exchanges have already frozen another $1.65 million belonging to the hackers. So, this means that the total amount of frozen…

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Filed under: News - @ September 15, 2024 10:03 pm