Argentine authorities have arrested a Russian citizen for laundering millions in cryptocurrency linked to North Korea’s Lazarus Group.
Argentine authorities have arrested a 29-year-old Russian citizen for money laundering, uncovering a multi-million dollar operation carried out in the country.
According to a report from analytics firm TRM Labs, the suspect is accused of laundering illicit cryptocurrency from North Korea’s Lazarus Group, among other criminal organizations. The investigation revealed a complex network of transactions across multiple blockchains and assets, including more than 2,400 cryptocurrency transfers worth more than $4.5 million on the TRON network.
During the operation, authorities seized more than $120,000 in cryptocurrency and another $15 million from other properties controlled by the suspect. According to local news reports, the scheme used a Telegram bot to convert Russian rubles, stablecoins, euros, and US dollars into Argentine pesos.
An investigation launched in November 2023 by the Specialized Fiscal Unit for Cybercrime Investigation of San Isidro, led by Prosecutor Alejandro Musso, revealed that part of the $100 million stolen in the Harmony Bridge hack flowed into a cryptocurrency wallet in Argentina.
The suspect also reportedly conducted numerous transactions through Binance accounts both domestically and internationally, suggesting a complex network involving both Russian and Argentine operations.
The investigation is consistent with Binance’s recent moves to strengthen its compliance efforts following a $4.3 billion settlement with the U.S. Department of Justice and other authorities. As crypto.news previously reported, the exchange plans to add 1,000 new employees to its workforce, with 20% of those being assigned to compliance roles by the end of 2024.
