Money Laundering in Web3 and DeFi: The Lazarus Group and the Risks of KYC-Free DEXs

The rise of Web3 and decentralized finance (DeFi) has transformed the financial landscape, offering greater accessibility, permissionless transactions, and financial sovereignty. However, these innovations also introduce significant risks, particularly in money laundering and illicit finance. One of the most notorious examples is the North Korean-backed Lazarus Group, which exploited KYC free decentralized exchanges (DEXs) and cross-chain bridges to obscure the origins of stolen funds.

How the Lazarus Group Laundered Stolen Crypto

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