DMM Bitcoin Hack: 500 BTC Transfer Linked to $305 Million Theft Raises New Concerns

A cryptocurrency address linked to the $305 million DMM Bitcoin hack in May has reportedly transferred 500 Bitcoin, valued at approximately $30.4 million. On August 22, PeckShield Alert reported that the suspect address initially split the funds into two separate addresses, each receiving around 250 BTC. This movement of funds marks a significant development in the aftermath of the DMM Bitcoin hack, which remains one of the most substantial cryptocurrency thefts of 2024.

The DMM Bitcoin hack, which occurred in May, resulted in the theft of 4,502.9 BTC, valued at approximately $305 million at the time. 

The current value of the stolen Bitcoin is just over $274 million. In response to the breach, DMM Bitcoin quickly raised $320 million to reimburse affected users, demonstrating the exchange’s commitment to mitigating the impact of the hack on its customers.

Blockchain investigator ZachXBT previously attributed the attack to the Lazarus Group, a notorious hacking organization allegedly linked to the Democratic People’s Republic of Korea. The Lazarus Group has been implicated in several high-profile cyberattacks, and its involvement in the DMM Bitcoin hack highlights the growing sophistication of cybercriminals targeting the cryptocurrency industry. 

According to on-chain analysts, the methods used to launder the stolen funds and various off-chain indicators strongly suggest the Lazarus Group’s involvement in the heist.

Following the hack, the attackers reportedly split the stolen Bitcoin into smaller batches of

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