DMM Bitcoin exchange hacked by North Korean group
The North Korean Lazarus Group is suspected of hacking the DMM Bitcoin exchange, stealing over $300 million. Investigations reveal funds were laundered through the Huione Guarantee platform, linked to $11 billion in transactions.
The notorious North Korean Lazarus Group is suspected of hacking the DMM Bitcoin exchange, resulting in the theft of over $300 million, with $35 million reportedly laundered in July 2024. Independent crypto asset investigator ZachXBT identified that the stolen funds were sent to the Huione Guarantee platform, a Chinese-language ecosystem suspected of facilitating transactions worth at least $11 billion and aiding crypto scammers.
Tether, the issuer of the popular stablecoin USDT, has blacklisted a wallet containing nearly $30 million allegedly connected to Huione. The laundering process involved transferring stolen BTC to a mixer and then swapping the mixed funds for USDT across different blockchains before sending them to Huione. Similar laundering techniques and off-chain indicators led investigators to suspect the involvement of the Lazarus Group.
Additionally, a Reuters report revealed that Lazarus allegedly sent $150,000 worth of crypto assets to Huione Pay, a Cambodian payments firm linked to Huione Guarantee. While Huione Pay claims it did not know the funds were from hacks, security experts and a UN report indicate that North Korean hackers are increasingly infiltrating crypto projects to gather sensitive data and steal assets.
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