Railgun refutes claims of North Korean laundering following price surge

Privacy exchange Railgun has refuted claims that this was the case used by North Korean hackersstating that the hacker group has been “blocked from using the Railgun system.”

On a Tuesday after on “Second, it was a false, false accusation in the first place,” it added.

Railgun’s comment came in response to Wu Blockchain’s after about Lazarus Group hackers using Railgun to launder stolen assets, noting that Railgun has become an alternative to Tornado Cash. The FBI reported in January 2023 that North Korean cyber actors used Railgun on January 13, 2023 to launder more than $60 million worth of ether stolen in a June 2022 heist.

Railgun token price on Monday jumped more than 123% after Ethereum co-founder Vitalik Buterin noted the project’s privacy benefits on X. Arkham Intelligence facts showed that the “vitalik.eth” address transferred 100 ETH (approximately $311,600) to Railgun.

“Privacy is normal,” Buterin wrote in an X after. “Railgun uses the privacy pools protocol, making it much more difficult for bad actors to join the pool without compromising user privacy.”

Railgun is currently changing hands for $1.18 at 1:00 a.m. ET, according to CoinGecko facts.

Railgun did not immediately respond to The Block’s request for comment.