$305 million cryptocurrency exchange in May DMM Bitcoin The hackers behind the attack reportedly laundered more than $35 million through an online marketplace in Cambodia in July. Blockchain detective ZachXBT said in a July 10 post using data from blockchain security firm Elliptic that the funds were laundered through Huione Guarantee, a Cambodian-based organization with ties to the country’s ruling Hun family.
New Development in Hack Attack
According to Elliptic, the market; hack processed $11 billion worth of crypto transactions linked to attacks and many other crimes. ZachXBT, In his statement via X, he shared the following statements regarding the issue: A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“The Lazarus Group is suspected to be behind the attack due to similarities in laundering techniques and off-chain indicators.”
Hackers deposit stolen Bitcoin into privacy mixers, which withdraw Bitcoin and transfer those funds to a cross-chain liquidity protocol THORChain The funds are then converted to USDT and transferred to Tron before being transferred to Huione, ZachXBT said.
However, the transfer of $28.2 million to Huione was blocked after stablecoin issuer Tether blacklisted the Tron wallet address TNVaK…s4Ug8 on July 12. ZachXBT noted that this was the same wallet that had obtained around $14 million from the DMM Bitcoin hack over the course of three days.
Details on the Subject
ZachXBT also shared 538 wallet addresses linked to Lazarus Group, Huione, and the DMM Bitcoin hack. Japan-based DMM Bitcoin lost $305 million after a critical vulnerability was exploited. The vulnerability allowed hackers to access DMM Bitcoin servers, leading to its unauthorized breach on May 30.
Cryptocurrency exchange raises $320 million to compensate users for losses after nearly a week. Blockchain security firm To Cyvers According to the report, over $1.4 billion worth of crypto has been stolen so far in 2024. Centralized exchanges have become a prime target for hackers, with losses increasing by 900% in the last 12 months. The team shared the following statements on the subject:
“There has been a significant shift in attack vectors this quarter, with centralized exchanges (CEX) bearing the brunt of major incidents while decentralized finance (DeFi) protocols are showing increased resilience.”
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
