Recently, the movement of 500 Bitcoin, presumably linked to the hack on the DMM Bitcoin exchange in May 2023, was detected.
Bitcoin Movement
According to PeckShield Alert, the address suspected of being linked to the DMM Bitcoin hack moved 500 BTC (approximately $30.4 million) to two new addresses, each receiving around 250 BTC.
DMM Bitcoin Hack
The funds moved to the new addresses are suspected to be part of the 4,502.9 BTC stolen from the Japanese cryptocurrency exchange DMM Bitcoin in May. Initially, the total amount stolen was estimated to be $305 million, but at current rates, it is worth around $274 million. After the hack, DMM Bitcoin raised $320 million to compensate the victims of the hack.
Allegations Against Lazarus Group
Blockchain investigator ZachXBT previously blamed the Lazarus Group, linked to the Democratic People’s Republic of Korea, for the DMM Bitcoin hack. He indicated that the techniques used to launder the stolen crypto and several other off-chain indicators pointed to this group.
The movement of the stolen Bitcoin continues to be tracked, revealing new addresses and associated exchanges. The hack on DMM Bitcoin remains one of the most significant security incidents in the cryptocurrency industry to date.
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