Expert Tracks Stolen DMM Bitcoin Assets
Since the beginning of July, over $35 million, stolen in the May hack of the cryptocurrency exchange DMM Bitcoin, has been laundered through the Cambodian online marketplace Huione Guarantee. This was highlighted by on-chain researcher ZachXBT.
How the hackers operated:
▪️They routed the stolen bitcoins through mixers.
▪️Exchanged them for Ethereum and Avalanche via the cross-chain liquidity protocol THORChain.
▪️Converted the assets to USDT, then to Tron.
▪️Finally, the assets ended up on Huione Guarantee.
One transaction amounting to $29.6 million was blocked on July 12 when the stablecoin issuer Tether blacklisted one of the hacker's Tron wallets.
ZachXBT suspects that the Lazarus Group is behind this incident due to the similarity in money laundering methods and off-chain indicators.
He also shared 538 wallets involved in the exchange hack.
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