Key Points:
- FixedFloat prevented money laundering by freezing $2 million in cryptocurrency from North Korean hacking group Lazarus.
- FixedFloat is committed to combating money laundering and protecting its users, even in the face of sophisticated threats from Lazarus and other hacker groups.
- Despite the challenges posed by the US Treasury Department’s sanctions on Tornado Cash, FixedFloat has taken proactive measures to continue providing its crypto mixing services.
FixedFloat, a well-known cryptocurrency mixer, has recently reported that FixedFloat prevented money laundering carried out by the North Korean hacker group Lazarus in the past three days.
FixedFloat Prevented Money Laundering Attempt by Lazarus, Freezes $2 Million in Cryptocurrency
Through a highly coordinated and diligent effort, the dedicated team at FixedFloat successfully put a halt to this illegal activity. As a result, they were able to freeze and immobilize a substantial amount of cryptocurrency, amounting to hundreds of thousands of dollars.
FixedFloat made an official announcement on their X account (formerly known as Twitter), where they disclosed that FixedFloat prevented money laundering approximately $2 million worth of cryptocurrency that Lazarus had attempted to launder. It is important to note that Lazarus is widely recognized for its involvement in significant hacking attacks.
Crypto Mixer FixedFloat Navigates Challenging Landscape and Continues to Provide Valuable Services
In 2022, the US Treasury Department’s sanctions list included Tornado Cash, a cryptocurrency mixing service. A tool or service meant to lessen or hide the traceability of cryptocurrency (like Bitcoin) transactions is called a crypto mixer, often referred to as a crypto blender. This move shed light on the role of crypto mixers in facilitating money laundering activities. Tornado Cash has been utilized to launder an astonishing sum of over $7 billion in cryptocurrency since its inception.
The revelation of this information prompted numerous crypto mixers, both large and small, to cease their operations. Despite the challenging landscape, platforms like FixedFloat have taken proactive measures to navigate these circumstances while ensuring the uninterrupted provision of their valuable services.
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