The DMM Bitcoin Funds That Have Been Stolen Are Moving

Theft from a cryptocurrency exchange or a crypto protocol is one thing; however, laundering the funds without being discovered is still a significant challenge.

Cryptocurrency exchange breaches are a dime a dozen in the Web3 domain. As reported by Coingape, the latest victim of a cyber-attack was Squarespace, an IT service that hosts websites for Compound Finance and Celer Network. Both protocols, however, did not suffer any monetary losses due to the exploit, which rendered their websites inaccessible. While most other exploits do lead to a loss of funds, often times, we see exchanges negotiating terms that lead to a reimbursement of funds. However, it is worth noting that no such refund has been noted in any of the Lazarus Group exploits. While it remains to be seen whether the revelation by ZachXBT will lead to any closure, the DMM Bitcoin hack continues to be among the biggest breaches the industry has witnessed in 2023.

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