Laundering saw the exchange temporarily suspended.
A cryptocurrency exchange had its decentralised exchange aggregator services momentarily halted as the Lazarus Group laundered over $1.4 billion from major Dubai-based cryptocurrency exchange Bybit Technology last month.
According to The Record, the Seychelles-based exchange OKX said that after consulting with regulators, “we made the proactive decision to temporarily suspend our [decentralised exchange] aggregator services,” the company said.
“This move allows us to implement additional upgrades to prevent further misuse.”
In another message on social media, the company claimed the efforts by Lazarus Group had been “unsuccessful.”
Implementing such a shutdown would allow several improvements that would curtail abuse of the tool, according to OKX, which noted that Lazarus' money laundering activities have not been successful.
Written by
Dan Raywood is a B2B journalist with 25 years of experience, including covering cybersecurity for the past 17 years. He has extensively covered topics from Advanced Persistent Threats and nation-state hackers to major data breaches and regulatory changes.
He has spoken at events including 44CON, Infosecurity Europe, RANT Forum, BSides Scotland, Steelcon and the National Cyber Security Show, and served as editor of SC Media UK, Infosecurity Magazine and IT Security Guru. He was also an analyst with 451 Research and a product marketing lead at Tenable.
