# $1.3M Crypto Heist

*$1.3M Crypto Heist Unveils Massive North Korean Developer Network*

By [aundingoya.eth](https://paragraph.com/@aundingoya.eth) · 2024-08-19

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Crypto investigator ZachXBT has uncovered a massive scheme involving North Korean developers infiltrating numerous crypto projects. The probe started after a $1.3 million theft revealed a broader network of compromised projects.

Key Takeaways:

\- Over 25 crypto projects linked to North Korean developers.

\- Recent payments of $375,000 to these developers.

\- Historical transactions totaling $5.5 million tied to sanctioned individuals.

\- Complex laundering methods using cross-chain transfers and mixers.

ZachXBT identified 21 payment addresses and recent transactions indicating a well-coordinated operation. Developers used fake credentials and resumes, and submitted false IDs during KYC checks.

He advises vigilance against red flags like multiple developers from the same network, inconsistent performance, and rapid creation of new accounts. The scale suggests that one entity in Asia could be receiving $300,000 to $500,000 monthly from these activities.

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*Originally published on [aundingoya.eth](https://paragraph.com/@aundingoya.eth/dollar13m-crypto-heist)*