Exclusive: Hackers selling discounted tokens linked to CoinEx, Stake hacks

Blockchain analytics investigators have uncovered an individual linked to a cryptocurrency laundering operation that is offering stolen tokens at discounted prices from recent high-profile exchange hacks.

Speaking exclusively to Cointelegraph, a representative from blockchain security firm Match Systems outlined how investigations into several major breaches featuring similar methods through the summer months of 2023 have pointed to an individual who is allegedly selling stolen cryptocurrency tokens via peer-to-peer transfers.

Lazarus hackers left minimal digital footprints behind while recent incidents have left plenty of breadcrumbs for investigators. Social engineering has also been identified as a key attack vector in the summer hacks while Lazarus Group targeted “mathematical vulnerabilities”.

Lastly the firm notes that Lazarus hackers typically used Tornado Cash to launder stolen cryptocurrency while recent incidents have seen funds mixed through protocols like Sinbad and Wasabi. Key similarities are still significant. All these hacks have used BTC wallets as the primary repository for stolen assets as well as the Avalanche Bridge and mixers for token laundering.

Blockchain data reviewed at the end of Sept. 2023 suggests that North Korean hackers have stolen an estimated $47 million worth of cryptocurrency this year, including $42.5 million in BTC and $1.9 million ETH.

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