Cambodian Payments Firm Received $150K From North Korean Hackers Lazarus Wallet: Reuters

As a seasoned researcher with extensive experience in the field of cryptocurrency and cybersecurity, I find the report on Huione Pay receiving funds from North Korean hackers Lazarus to be both intriguing and concerning. The fact that this Phnom Penh-based payments company allegedly received over $150,000 worth of crypto between June last year and February this year, without knowing it had indirectly received funds from the hacks, is alarming.

According to Reuters’ report from Monday, a Cambodian business handling cryptocurrency exchanges and transactions received approximately $150,000 worth of crypto from a wallet linked to the North Korean hacking group Lazarus.

According to a recent report, Huione Pay, based in Phnom Penh, obtained cryptocurrency funds between June last year and February this year, as indicated by blockchain records. Notably, hacking group Lazarus is believed to have stolen the crypto from three different companies back in June and July of 2021, Reuters revealed.

In the statement released by Huione Pay, they mentioned that they were unaware they had received funds as a result of the hacks, based on the report.

The National Bank of Cambodia informed Reuters that the firm is prohibited from handling or exchanging cryptocurrencies, and it is prepared to take necessary actions against the platform if required.

Huione Pay is a payment company with ties to Cambodia’s ruling family. Additionally, there’s Huione Guarantee within the same group, identified by crypto-tracing firm Elliptic as a marketplace where fraudulent merchants, including those involved in pig-butchering scams, operate.

Huione Pay did not respond to CoinDesk’s request for comment.