{"id":10210,"date":"2024-07-15T11:31:15","date_gmt":"2024-07-15T11:31:15","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=10210"},"modified":"2024-07-15T11:31:18","modified_gmt":"2024-07-15T11:31:18","slug":"lazarus-group-suspected-in-305-million-dmm-bitcoin-hack","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/lazarus-group-suspected-in-305-million-dmm-bitcoin-hack\/","title":{"rendered":"Lazarus Group Suspected in $305 Million DMM Bitcoin Hack"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">ZachXBT, an on-chain investigator, reported that the recent $305 million hack of DMM Bitcoin, a Japanese crypto exchange, might be the work of the Lazarus Group, known for its ties to North Korea. ZachXBT noticed that the movement of the stolen funds mirrored the typical operations of Lazarus.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Movement of Stolen Funds<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In a tweet, ZachXBT shared that over $35 million of the stolen funds were sent to an online marketplace called Huione Guarantee in July. This caught the attention of Tether, the stablecoin issuer, which blocked a Tron-based wallet holding 29.6 million USDT. This same wallet, connected to Huione, had received about $14 million from the DMM Bitcoin hack in just three days. The hackers used a complex method to hide the stolen funds, including mixing Bitcoin, moving it across different blockchain networks, and converting it into other digital coins. This process is similar to techniques previously used by the Lazarus Group.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Evidence of Lazarus Group\u2019s Involvement<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">ZachXBT tweeted that the similarities in laundering techniques and off-chain indicators strongly suggest that the Lazarus Group is behind the hack. The hackers converted the stolen Bitcoin into USDT, despite Tether\u2019s ability to block USDT, because they were selling the stolen assets through small over-the-counter services that only accept USDT.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Huione Guarantee\u2019s Role in Crypto Laundering<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This incident also highlights how Huione Guarantee is becoming a popular platform for hackers to move cryptocurrencies. A recent report by Elliptic Research found that Huione has handled at least $11 billion in crypto over the last three years, with much of it linked to illegal activities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The alleged involvement of the Lazarus Group in the DMM Bitcoin hack underscores the ongoing threat of sophisticated cybercriminals in the crypto space. It also emphasizes the growing use of platforms like Huione Guarantee for laundering stolen cryptocurrencies. Enhanced security measures and vigilant monitoring are crucial to combating such threats and protecting digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ZachXBT, an on-chain investigator, reported that the recent $305 million hack of DMM Bitcoin, a Japanese crypto exchange, might be the work of the Lazarus Group, known for its ties to North Korea. ZachXBT noticed that the movement of the stolen funds mirrored the typical operations of Lazarus. Movement of Stolen Funds In a tweet, [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":10211,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[257,43],"tags":[],"class_list":["post-10210","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-general-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lazarus Group Suspected in $305 Million DMM Bitcoin Hack<\/title>\n<meta name=\"description\" content=\"ZachXBT, an on-chain investigator, reported that the recent $305 million hack of DMM Bitcoin, a Japanese crypto exchange, might be the work of the Lazarus\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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