Another Chunk of Stolen Bitcoin Moves
Remember the big DMM Bitcoin hack back in May? Well, it seems the hackers are still at it. They recently moved 500 Bitcoin, worth about $30.4 million, to new addresses. This is likely part of the original haul of 4,502.9 Bitcoin, worth over $300 million at the time of the theft.
Lazarus Group Suspected
Experts believe the Lazarus Group, a North Korean hacking group, is behind the attack. They’ve been linked to other crypto heists and have a history of laundering stolen funds. This time, they seem to be using a similar strategy, splitting the stolen Bitcoin into smaller chunks and moving them to new wallets.
The Money Trail
Investigators have traced some of the stolen Bitcoin to Huione Guarantee, a Cambodian exchange that has been accused of helping launder money from various crypto hacks and scams. The hackers typically use privacy mixers to hide the Bitcoin’s origin before converting it to Tether and depositing it on Huione.
DMM Bitcoin’s Response
DMM Bitcoin has been dealing with the fallout from the hack since May. They raised $320 million to reimburse victims and have implemented security measures to prevent further losses. They also temporarily halted spot trading and warned customers that yen withdrawals might take longer than usual.
Cryptocurrency Theft on the Rise
This hack adds to the growing list of cryptocurrency thefts in 2024. While overall illegal activity on blockchain networks is down, stolen funds have actually increased. This year, hackers have stolen over $1.58 billion, more than double the amount stolen last year. Ransomware attacks are also on the rise, with criminals making off with almost $460 million.
