North Korean Lazarus Group Linked To DMM Bitcoin Hack đ¨
First, he said the funds stolen on DMM Bitcoin were moved to a mixer. Thereafter, the funds were shifted from the mixer and converted from Bitcoin to Ethereum or Avalanche via THORChain, Threshold, Avalanche bridge. After these the hackers converted the BTC to USDT on Tron via SWFT.
For this last stage, the assumption remains that the origin and destination of the stolen funds had been properly concealed.
A Different Hacking Trend
Hacks and cyber exploits are not uncommon in todayâs Web3 world. Coingape reported the recent Squarespace breach, an IT service firm that powers Compound Finance and Celer Network. Both protocols suffered outages on their website following the exploit, however, with no funds lost.
Other exploits generally result in fund losses but some projects are often able to negotiate terms that lead to refund. However, in all exploits connected to the Lazarus Group, none of such refunds have been recorded. It remains to be seen if the revelation from ZachXBT will give some closure, the DMM Bitcoin hack still ranks as one of the gravest the industry has seen this year.
