PeckShield Alert reports that a crypto address linked to the May DMM Bitcoin hack has moved 500 BTC. The bitcoins were divided between two addresses, each receiving approximately 250 BTC.
Transfer Details
A suspect account in the DMM Bitcoin hack has moved 500 BTC worth $30.4 million to two new addresses. The funds are thought to be part of the 4,502.9 BTC stolen from the Japanese crypto exchange DMM Bitcoin in May, valued at $305 million at the time but now worth slightly over $274 million.
Suspected Perpetrators
Blockchain investigator ZachXBT previously linked the DMM Bitcoin hack to the infamous Lazarus Group, connected to North Korea. He noted that the techniques used to launder the stolen crypto and several off-chain indicators pointed to the Lazarus Group.
Reactions and Implications
Soon after the attack, the hackers reportedly divided the stolen bitcoin into smaller batches of 500 BTC and moved them to new wallets. In July, ZachXBT claimed that the attackers had moved about $35 million worth of BTC to the Cambodia-based exchange Huione Guarantee, which has been accused of facilitating the laundering of stolen crypto.
The DMM Bitcoin incident and subsequent movements of the stolen funds raise concerns in the crypto community. Investigators continue to track these movements, aiming to prevent further laundering and misuse of the stolen assets.
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