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North Korea Accused of Laundering $147.5M in Crypto via Tornado Cash

North Korea has been accused of laundering a staggering $147.5 million in cryptocurrency through Tornado Cash, a popular Ethereum-based privacy protocol. The accusation sheds light on the potential misuse of privacy-enhancing technologies by rogue actors to evade sanctions and fund illicit activities.

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North Korea has been accused of laundering a staggering $147.5 million in cryptocurrency through Tornado Cash, a popular Ethereum-based privacy protocol. The accusation sheds light on the potential misuse of privacy-enhancing technologies by rogue actors to evade sanctions and fund illicit activities.

According to reports, a United Nations (UN) panel of experts has accused North Korea of utilizing Tornado Cash to obscure the origin and destination of illicitly obtained funds, making it challenging for authorities to trace and interdict the flow of funds. The $147.5 million allegedly laundered through Tornado Cash represents a significant sum and underscores the scale of illicit financial activities facilitated by cryptocurrencies.

Tornado Cash, known for its privacy-enhancing features that allow users to send and receive Ethereum transactions anonymously, has faced scrutiny from regulators and law enforcement agencies for its potential use in money laundering and other illicit activities. The accusation against North Korea highlights the challenges posed by privacy-focused cryptocurrency projects and their potential misuse by malicious actors.

The UN panel’s findings underscore the importance of robust regulatory oversight and international cooperation in combating illicit financial activities in the cryptocurrency space. Efforts to address the misuse of privacy-enhancing technologies like Tornado Cash require coordinated action from governments, regulators, and industry stakeholders to protect the integrity of the financial system and prevent the funding of illicit activities.

The accusation against North Korea also raises questions about the effectiveness of sanctions enforcement in the digital age. With rogue states and illicit actors increasingly turning to cryptocurrencies to evade sanctions and finance their activities, policymakers and regulators face the challenge of adapting to new technologies and closing regulatory loopholes to prevent abuse.

As the cryptocurrency industry continues to evolve, efforts to combat money laundering and illicit financial activities remain a top priority for regulators and law enforcement agencies worldwide. While privacy-enhancing technologies like Tornado Cash offer legitimate benefits for users seeking financial privacy, their potential misuse underscores the need for responsible development and regulatory compliance to ensure the integrity and security of the financial system.

In summary, the accusation against North Korea of laundering $147.5 million in cryptocurrency through Tornado Cash highlights the challenges posed by privacy-focused cryptocurrency projects and their potential misuse by rogue actors. The revelation underscores the importance of robust regulatory oversight and international cooperation in combating illicit financial activities in the cryptocurrency space.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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