North Korean Cybercrime: Lazarus Group Launders Millions Through Cambodian Firm

• North Korean hackers laundered $150,000 in stolen crypto through Cambodian firm Huione Pay.
• Lazarus’ group used phishing attacks to steal from Atomic Wallet, CoinsPaid, and Alphapo.
• Huione Pay unknowingly received stolen funds, highlighting regulatory and compliance gaps.

New evidence suggests North Korea’s Lazarus Group laundered over $150,000 in stolen cryptocurrency through Huione Pay, a Cambodian payments firm, highlighting the group’s sophisticated tactics and the challenges of combating crypto-related crime in Southeast Asia.

This revelation offers a glimpse into the sophisticated methods the Lazarus group employs to launder funds in Southeast Asia. Despite Huione Pay’s claims of ignorance, blockchain analysis shows that the company received the illicit funds between June 2023 and February 2024.

Huione Pay, the Cambodian firm implicated, offers currency exchange, payments, and remittance services. The company received the stolen crypto but claimed it was unaware of their or…

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