Suspected DMM Bitcoin Hack Wallet Moves $30.4M in Stolen Cryptocurrency  

• 500 Bitcoin, valued at $30.4 million, was moved from a wallet linked to the DMM Bitcoin hack.
• The Lazarus Group is suspected of laundering the stolen cryptocurrency through privacy mixers and exchanges.
• DMM Bitcoin raised $320 million to compensate users affected by the $305 million hack.

A crypto address linked to the infamous $305 million DMM Bitcoin hack in May has reportedly transferred 500 Bitcoin, valued at approximately $30.4 million. This development has triggered fresh concerns among industry watchers regarding the ongoing efforts by hackers to launder the stolen funds.

Suspected Wallet Transfers Bitcoin

PeckShield Alert, a blockchain security firm, revealed that the suspected wallet moved 500 Bitcoin to two separate addresses, each receiving roughly 250 BTC. These funds are believed to be part of the 4,502.9 BTC stolen from the Japanese crypto exchange DMM Bitcoin during the May attack.

The stolen Bitcoin, initially valued at around $305 million, is now worth approximately $274 million due to market fluctuations. Following the hack, DMM Bitcoin raised $320 million to compensate the affected users, highlighting the significant financial impact of the breach.

Blockchain investigator ZachXBT previously identified the notorious Lazarus Group, a hacking collective linked to North Korea, as the prime suspect behind the DMM Bitcoin hack. The investigator cited on-chain activity and several off-chain indicators that align with the group’s known tactics, suggesting that they are continuing to move the stolen cryptocurrency.

Bitcoin Divided and Transferred

In the immediate aftermath of the hack, the attackers reportedly divided the stolen Bitcoin into smaller batches of 500 BTC and transferred them to new wallets. The recent movement of 500 BTC identified by PeckShield is part of these efforts and the latest to be tracked since the hack occurred.

Ongoing Laundering Efforts

In July, ZachXBT reported that approximately $35 million worth of Bitcoin had been moved to the Cambodia-based exchange, Huione Guarantee. This exchange has faced accusations of facilitating the laundering of funds from various crypto hacks, including those involving pig butchering scams and other exploits. The DMM Bitcoin attackers are believed to be using privacy mixers to obscure the trail of the stolen funds before transferring them to Ethereum.