Hackers who stole $305 million worth of Bitcoin from a Japanese cryptocurrency exchange earlier this year are moving their BTC.
In May, Japanese trading platform DMM Bitcoin lost 4,502.9 BTC in what crypto investigation firm Chainalysis called “the seventh-largest crypto hack of all time.”
Blockchain security firm PeckShield says wallets associated with the hackers moved approximately 850 BTC worth over $54 million to six different addresses this week.
The cybercriminals, who on-chain sleuths suspect are linked to the North Korean hacking group known as the Lazarus Group, likely used one of two methods to loot the funds, according to crypto security firm Beosin.
“1. A traditional exchange attack. The DMM Bitcoin signature service is attacked or the multi-sig private key is compromised. Then, the attacker used a similar historical transfer address to receive funds to avoid detection and alert.
2. The exchange wallet controller was the victim of an address spoofing scam, meaning that only the first five digits and last two digits of the receiving address were verified during the transfer, resulting in the transfer to the hacker’s address.
At the time of writing, Bitcoin is trading at $63,852. The top-ranked crypto asset by market cap is up more than 5% in the last 24 hours.
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