North Korean Hackers Launder $4.3M via Tornado Cash, Buy PEPE Tokens

On March 11, 2025, North Korean hackers reportedly utilized CoinJoin transactions to purchase 43.76 billion PEPE coins, valued at $3.1 million. This transaction was part of a larger scheme involving the use of Tornado Cash for coin mixing, which allowed the hackers to obscure the origin of their funds. The hackers exploited a vulnerability in the Tornado Cash user interface, enabling them to convert a portion of their stolen ETH funds into PEPE tokens.

According to on-chain analysis, the hackers made significant purchases of PEPE tokens, totaling 689.79 billion tokens, which amounted to approximately $4.3 million. All of these funds were traced back to Tornado Cash, highlighting the hackers' use of this platform to launder their illicitly obtained cryptocurrency. The incident underscores the ongoing threat posed by North Korean hackers, who continue to employ sophisticated techniques to evade detection and convert stolen funds into other digital assets.

This event serves as a reminder of the importance of robust security measures in the cryptocurrency space. The use of coin mixing services like Tornado Cash, while intended to enhance privacy, can also be exploited by malicious actors to conceal the source of stolen funds. The incident involving the purchase of PEPE tokens demonstrates the need for enhanced vigilance and improved regulatory frameworks to combat such activities. As the cryptocurrency market continues to evolve, it is crucial for stakeholders to remain proactive in addressing these security challenges to protect the integrity of the ecosystem.