{"id":140432,"date":"2024-10-24T11:00:15","date_gmt":"2024-10-24T08:00:15","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140432"},"modified":"2024-10-23T17:59:42","modified_gmt":"2024-10-23T14:59:42","slug":"china-based-trader-allegedly-launders-millions-for-north-korean-hackers","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/china-based-trader-allegedly-launders-millions-for-north-korean-hackers\/","title":{"rendered":"China-based Trader Allegedly Launders Millions for North Korean Hackers"},"content":{"rendered":"<p>According to onchain analyst <strong><a href=\"https:\/\/x.com\/zachxbt\/status\/1849071080180240751\" target=\"_blank\" rel=\"nofollow\">ZachXBT<\/a><\/strong>, Wang has been converting the stolen digital assets into cash through bank transfers since 2022.<\/p>\n<p>ZachXBT shared this information following a report from a follower whose account was frozen after a peer-to-peer transaction with Wang.<\/p>\n<p>In an October 23 post, he revealed that Wang had attempted to arrange a significant transaction involving $1.5 million worth of USDT for Chinese yuan at a rate significantly lower than the market value.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/former-crypto-ceo-faces-fraud-charges-over-misappropriated-bitcoin-funds\/\" title=\"Former Crypto CEO Faces Fraud Charges Over Misappropriated Bitcoin Funds\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2023\/05\/fraud-scam5066-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Former Crypto CEO Faces Fraud Charges Over Misappropriated Bitcoin Funds<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Wang\u2019s wallet, identified as \u201c0x501,\u201d reportedly accumulated over $17 million linked to more than 25 hacks attributed to the Lazarus Group before Tether froze $374,000 in that wallet in November 2024.<\/p>\n<p>The Lazarus Group is known for executing some of the largest cryptocurrency heists, including the infamous $600 million hack of the Ronin bridge.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A China-based trader, Yicong Wang, is accused of laundering tens of millions of dollars in stolen cryptocurrency for the notorious North Korean hacking group, Lazarus.<\/p>\n","protected":false},"author":7,"featured_media":14915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-140432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China-based Trader Allegedly Launders Millions for North Korean Hackers<\/title>\n<meta name=\"description\" content=\"A China-based trader, Yicong Wang, is accused of laundering tens of millions of dollars in stolen cryptocurrency for the notorious ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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