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North Korean Group TraderTraitor Steals $308 Million, 48.2 Billion Yen, From DMM Bitcoin on May 31

Dec 23, 2024, 10:10 PM

North Korean hackers have stolen approximately $308 million, equivalent to 48.2 billion yen, worth of cryptocurrency from the Japanese exchange DMM Bitcoin on May 31, according to a joint announcement by Japan's National Police Agency and the U.S. Federal Bureau of Investigation. The theft was attributed to the North Korean-linked hacker group TraderTraitor, which is part of the Lazarus Group. The hackers employed social engineering tactics, with one member posing as a recruiter on LinkedIn to trick an employee of Ginco Inc., DMM Bitcoin's outsourcing partner, into downloading malicious software. This breach allowed the hackers to access and manipulate DMM Bitcoin's transaction system, leading to the theft. The stolen funds were subsequently laundered, with some traced to a wallet known to be controlled by TraderTraitor. In response to the incident, DMM Bitcoin has announced plans to transfer its customers' wallets to SBI Holdings Inc.'s cryptocurrency exchange unit and cease operations.