Tether Freezes Hacker Address of DMM Bitcoin, Suspected North Korean Group

IconCryptoNewsTerminal Staff15 Jul, 2024

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Tether Freezes Hacker Address of DMM Bitcoin, Suspected North Korean Group

Tether, the company behind the popular stablecoin USDT, has blacklisted the hacker address of the cryptocurrency exchange DMM Bitcoin. The frozen address contains about $29.6 million in USDT. Blockchain security expert ZachXBT previously stated that the DMM Bitcoin hacker is believed to be the North Korean hacker group Lazarus. It is estimated that the hacker recently laundered $35 million from the online market Huione Guarantee, which is operated by the Cambodian conglomerate Huione Group. DMM Bitcoin reported a security breach late last year, stating that crypto assets worth $35 million had been stolen. The exchange later announced that it would distribute compensation to affected users. Tether's move to freeze the hacker's address is a significant step in combating crypto crime and signals a heightened focus on the security and integrity of the digital asset ecosystem.

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