North Korea-Backed Lazarus Group Behind $305M DMM Bitcoin Heist: Report
The recent hack of Japanese crypto exchange DMM Bitcoin is reportedly having ties with the notorious North Korean Lazarus Group. According to on-chain sleuth ZachXBT, the heist is similar to the laundering techniques exhibited by the infamous Group.
“It is suspected that Lazarus Group is behind the hack due to similarities in laundering techniques and off chain indicators.”
1/4 So far in July 2024 more than $35M from the $305M DMM Bitcoin hack has been laundered to the online marketplace Huione Guarantee
It is suspected that Lazarus Group is behind the hack due to similarities in laundering techniques and off chain indicators. pic.twitter.com/g1ndlttBll
— ZachXBT (@zachxbt) July 14, 2024
On May 31, DMM Bitcoin lost 4,502.9 BTC ($305 million) to a hack, representing one of the largest global exchange hacks in terms of fiat value. The company confirmed that the attack was an “unauthorized leak of Bitcoin from our wallet.”
Per ZachXBT, the hackers sent the $305 million of stolen funds from DMM to an online marketplace – Huione Guarantee in July.
“Huione has become a major hub for illicit funds in South East Asia,” the investigator wrote on X. “Primarily being used by criminal organizations such as pig butchering gangs.”
4/4 Huione has become a major hub for illicit funds in South East Asia, primarily being used by criminal organizations such as pig butchering gangs.
A recent report by the blockchain analytics firm Elliptic revealed that merchants on the platform have done an estimated $11B+ in… https://t.co/n4E0rorhv9 pic.twitter.com/DJkweWYJPm
— ZachXBT (@zachxbt) July 14, 2024
Blockchain analytic firm Elliptic revealed recently that merchants on the marketplace offer “tech, data and money laundering services.” Apparently, they
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