Recently, reports of a peculiar transaction involving North Korean hackers, controversial cryptocurrency mixing platform Tornado Cash and asset management giant BlackRock emerged. According to information published on a popular social network X, an amount of 1 ETH, equivalent to US$3,270, was transferred to an address associated with BlackRock, generating speculation and heated debates in the community.

This event highlights the challenges BlackRock may face given the scrutiny surrounding Tornado Cash and the Lazarus Group, the latter notorious for its cryptocurrency laundering activities and potential violations of anti-money laundering (AML) regulations imposed by the US regulators. In 2022, Tornado Cash found itself in the middle of a legal turmoil, accused by the US Treasury of facilitating criminal activity by laundering more than $7 billion in cryptocurrencies since 2019.

Despite imposed sanctions and seizures of alternative platforms like by US authorities, North Korean hackers, associated with the Lazarus Group, are believed to have persisted in their laundering operations using Tornado Cash. The transfer of a small amount of ETH to BlackRock introduces an element of mystery, raising questions about the intentions behind this action.

BlackRock’s response to these allegations is still awaited. The company is known for its strict adherence to US regulations, a reputation reinforced by the recent approval of its Spot Bitcoin ETF. The presence of BlackRock blockchain addresses in the transaction does not necessarily imply direct collaboration with hackers; instead, it can be interpreted as an attempt by them to generate controversy and divert attention.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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