In a major revelation, the notorious North Korean hacker group, Lazarus, is suspected of laundering over $35 million from the infamous hack of Japanese cryptocurrency exchange DMM Bitcoin.
What Happened: According to on-chain detective ZachXBT, the hackers behind the $305 million exploit allegedly laundered funds through a Cambodian online marketplace, Huione Guarantee, reportedly linked to Cambodia's ruling Hun family.
"It is suspected that Lazarus Group is behind the hack due to similarities in laundering techniques and off-chain indicators," ZachXBT stated.
1/4 So far in July 2024 more than $35M from the $305M DMM Bitcoin hack has been laundered to the online marketplace Huione Guarantee It is suspected that Lazarus Group is behind the hack due to similarities in laundering techniques and off chain indicators. pic.twitter.com/g1ndlttBll
— ZachXBT (@zachxbt) July 14, 2024
Citing a report by blockchain analytics firm Elliptic, the cryptocurrency sleuth said that Huione has become the preferred money laundering service provider for criminal groups in Southeast Asia, clocking an estimated $11 billion in transaction volume.
Why It Matters: Japan-based DMM Bitcoin lost $305 million in Bitcoin (CRYPTO: BTC) after a critical vulnerability was exploited in May. The cryptocurrency exchange raised $320 million about a week later to compensate users for the losses.
This is not the first time the Lazarus Group has been linked to large-scale cryptocurrency theft. The notorious gang, alleged to be run by the government of North Korea, laundered $13 million worth of Ethereum (CRYPTO: ETH) through a cryptocurrency mixer, Tornado Cash, earlier in March, despite U.S. sanctions.
According to a report, the group reportedly stole over $1 billion in cryptocurrency assets in 2023, targeting a record 20 platforms.
Prominent Crypto Analyst Says Ethereum 'Will Reach A New All-time High Faster Than The Rest,' Says It Has 'Tremendously Low Valuation'
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。