Yahya 
According to reports, the hackers behind the $305 million DMM Bitcoin exchange attack in May had laundered more than $35 million this month via an online marketplace in Cambodia. Blockchain forensics company Elliptic on July 10 said that bitcoin investigator ZachXBT claimed the pilfers went to Huione Guarantee, a business connected to Cambodia’s governing Hun family.
Laundering Techniques and Connections
Elliptic reported that from many illegal operations, including hacks and frauds, Huione Guarantee has transacted around $11 billion worth of cryptocurrency. ZachXBT speculates that comparable laundering methods and off-chain signs may point to the infamous Lazarus Group, a North Korean cybercrime group, perhaps responsible for the DMM Bitcoin attack.
The hackers have been laundering the pilfers of Bitcoin into privacy mixers, then withdrawing and bridging the money to Ethereum or Avalanche via THORChain. Before being sent to Huione, the converted money is once again transferred into USDT and linked to Tron.
Tether’s Intervention
Tether intervened on July 12 by blacklisting a Tron wallet address, “TNVaK…s4Ug8,” therefore stopping $28.2 million from being sent to Huizen. ZachXBT claims that this wallet had already taken over $14 million from the DMM Bitcoin heist over three days.
ZachXBT also provided 538 wallet addresses connected to the Lazarus Group, Huione, and others tied to the breach.
influence on DMM Bitcoin
After a crucial flaw was discovered on May 30, enabling hackers to access the exchange’s systems and syphon off money, Japan-based DMM Bitcoin lost a staggering $305 million in Bitcoin. DMM Bitcoin then raised $320 million a week later to pay impacted consumers.
Blockchain security company Cyvers reports that as of yet in 2024, over $1.4 billion worth of cryptocurrencies had been stolen. With losses rising by 900% over the previous 12 months, centralized exchanges have become a main focus for hackers.
Cyvers saw a notable change in attack routes; centralized exchanges handle most of the key events while decentralized finance (DeFi) systems have showed better resistance.
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