Stolen from Liquid.com cryptocurrency have been moved to wallets controlled by a party working on behalf of DPRK, Chainalysis has learned. The analysts say the attacker used DEX platform to swap 67 different ERC-20 tokens for ether (ETH).
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Later, ETH was mixed and then swapped for BTC. After that, the criminals mixed BTC and sent deposited the funds into crypto-to-fiat exchanges based in Asia. According to Chainalysis' estimates, the hackers laundered over $91 million in cryptocurrencies.
In August 2021, Liquid.com announced that an unauthorized user had gained access to some of the exchange's cryptocurrency wallets. Later, a the Japanese cryptocurrency exchange suggested that the hacker attacked its multiparty computation (MPC) system of custody.
The company said that the MPC wallet (used for warehousing and delivery management of cryptocurrencies) used by its Singapore subsidiary Quoine Pte was the main aim for the hacker. The exchange later noted it re-built its MPC infrastructure "to ensure maximum security."
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.