In the second quarter of this year, the use of money laundering technology using coins reached an all-time high. In particular, most of the money laundering funds in the second quarter were illegal funds related to North Korea.

Chainless, a blockchain data analysis company, announced on the 22nd that the usage of the money laundering coin technology “Mixer” reached a record high of $51.8 million (about KRW 67.67 billion) on April 19. This is more than twice the amount of transmission compared to the same day last year.

A mixer is a system that mixes money between deposited funds and withdrawal funds, making it difficult to track the flow of funds. For example, suppose that A, B, C, and D send 100,000 won each to the mixer, and A receives 100,000 won first. Then, the mixer collects 40,000 won from the account deposited by B, 30,000 won from C, and 30,000 won from D and transfers it back to A’s withdrawal account. In this way, the source of the funds is diluted, making it difficult to track.

According to Chynalisys, mixer usage has started to increase significantly compared to the quarter since 2020. In particular, from 2020, the use of mixers from the Defi service has increased significantly.

The amount of using mixers related to illegal virtual assets also increased by 11%p from 12% of the total mixer usage in 2021 to 23% this year.

In particular, the use of mixers by cybercrime organizations related to North Korea has increased significantly this year. Most of the illegal virtual assets that moved to the mixer in the second quarter of this year originated from Lazarus Group and Blender (, two groups related to North Korea. Lazarus Group is a cybercrime organization responsible for hacking virtual assets on behalf of the North Korean government. In 2022, it is estimated that hackers related to North Korea stole more than $1 billion worth of virtual assets from most of the defi protocols. Blender is in charge of laundering the stolen money from the Lazarus Group and other North Korean-related organizations.

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