2024

Bitcoin

ZachXBT

Avalanche

<p class="is-style-lead">A crypto address linked to the $305 million DMM Bitcoin hack in May has reportedly moved 500 Bitcoin, which have an estimated value of $30.4 million.</p>
<p>According to PeckShield Alert, the suspected address first moved the Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) to two addresses, each receiving approximately 250 BTC.&nbsp;&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#PeckShieldAlert</a> <a href="https://twitter.com/hashtag/DMMBitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#DMMBitcoin</a> Hacker-labeled address has moved 500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> (worth ~$30.4M) to 2 new addresses <a href="https://t.co/iINogvgwpK" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/iINogvgwpK</a></p>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1826523531032887764?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 22, 2024</a>
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<p>The funds are suspected <span style="margin: 0px; padding: 0px;">of being part of the 4,502.9 BTC&nbsp;<a href="https://crypto.news/japans-dmmbitcoin-to-match-outflows-after-308m-hack/" target="_blank" rel="noopener noreferrer nofollow">stolen</a>&nbsp;from the Japanese crypto exchange DMM Bitcoin&nbsp;</span>in May. The stash was then valued at about $305 million, but it would be worth just north of $274 million at current rates<span style="margin: 0px; padding: 0px;">. Soon after the attack, DMM Bitcoin&nbsp;<a href="https://crypto.news/dmm-bitcoin-to-raise-320m-to-pay-back-victims-of-recent-hack/" target="_blank" rel="noopener noreferrer nofollow">raised</a>&nbsp;$320 million,</span> which it used to compensate victims of the hack.</p>
<p>Blockchain investigator ZachXBT previously <a href="https://x.com/zachxbt/status/1812466959109521649" target="_blank" rel="noopener noreferrer nofollow">blamed</a> notorious hackers, the Lazarus Group, linked to the Democratic People’s Republic of Korea, for the DMM Bitcoin attack. The on-chain analyst said the techniques used to launder the stolen crypto and several other off-chain indicators pointed to the Lazarus group as the culprits.</p>
<p>You might also like: <a href="https://crypto.news/mcdonalds-instagram-hijacked-in-25m-solana-grimace-scam/" rel="noopener noreferrer nofollow"> McDonald’s Instagram hijacked in $25m Solana ‘GRIMACE’ scam </a></p>
<p>Soon after the hack, the attackers reportedly divided the stolen Bitcoin into smaller batches of 500 BTC and moved them into new wallets. The funds identified by Peckshield are from one of these wallets and the latest to be moved since the May 31 hack.</p>
<p>In July, ZachXBT claimed that the attackers had <a href="https://crypto.news/lazarus-group-allegedly-moves-stolen-funds-from-308m-dmm-bitcoin-hack/" target="_blank" rel="noopener noreferrer nofollow">moved</a> about $35 million worth of Bitcoin to the Cambodia-based exchange, Huione Guarantee. The exchange was recently accused of facilitating the laundering of funds from crypto hacks, pig butchering scams, and other crypto exploits.&nbsp;</p>
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   <p lang="en" dir="ltr">4/4 Huione has become a major hub for illicit funds in South East Asia, primarily being used by criminal organizations such as pig butchering gangs. <br><br>A recent report by the blockchain analytics firm Elliptic revealed that merchants on the platform have done an estimated $11B+ in… <a href="https://t.co/n4E0rorhv9" target="_blank" rel="noopener noreferrer nofollow">https://t.co/n4E0rorhv9</a> <a href="https://t.co/DJkweWYJPm" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/DJkweWYJPm</a></p>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1812466989652480222?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 14, 2024</a>
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<p><span style="margin: 0px; padding: 0px;">As crypto news&nbsp;<a href="https://crypto.news/tether-freezes-28m-in-usdt-linked-to-cambodian-fraud/" target="_blank" rel="noopener noreferrer nofollow">reported in July</a>, Tether froze a Tron wallet suspected to belong to Huione, with more than $28 million in USDT</span> thought to be the proceeds of crime.</p>
<p>According to the crypto sleuth, the DMM Bitcoin attackers typically move the stolen cryptocurrency to privacy mixers and then bridge it to Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) and Avalanche (<a href="https://crypto.news/price/avalanche/" target="_blank" rel="noopener noreferrer nofollow">AVAX</a>) using THORChain. The thieves then change the funds to Tether (<a href="https://crypto.news/price/tether/" target="_blank" rel="noopener noreferrer nofollow">USDT</a>), shift them to Tron (<a href="https://crypto.news/price/tron/" target="_blank" rel="noopener noreferrer nofollow">TRX</a>), and finally deposit them on Huione.</p>
<p>Read more: <a href="https://crypto.news/binance-to-boost-compliance-efforts-with-1000-new-hires-in-2024/" rel="noopener noreferrer nofollow"> Binance to boost compliance efforts with 1,000 new hires in 2024 </a></p>

Suspected DMM Bitcoin hackers move 500 BTC to new addresses

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