Hackers executed a massive $305 million hack on DMM Bitcoin, a Japanese cryptocurrency exchange, leading to suspicions of possible involvement from the Lazarus Group, a group with North Korean ties. The stolen funds were discreetly funneled through Huione Guarantee, an online marketplace, with over $35 million making its way there in July. Tether, the stablecoin issuer, took action by freezing a Tron-based wallet containing 29.6 million USDT linked to the incident. Remarkably, the same wallet received $14 million from the DMM Bitcoin breach within a mere three-day period.
To cover their tracks, the hackers utilized intricate techniques such as mixing Bitcoin, transferring it across diverse blockchain networks, and converting it into alternative digital assets, echoing the modus operandi typically associated with the Lazarus Group.
The emergence of Huione Guarantee as a favored platform for hackers to transact cryptocurrencies points to a concerning trend. Recent findings from Elliptic Research disclosed that Huione has facilitated illicit crypto transactions totaling over $11 billion in the last three years.
