Blockchain analytics company Bitquery tracked a total of 108.8 million USDC withdrawals from accounts on Kraken, Crypto.com, and OKX between November 1st and 2nd. The funds were distributed across hundreds of wallets, with a significant portion converted to Ether, which cannot be frozen by a centralized issuer.
Crypto.com announced that it prevented funds linked to the attack from being transferred through its platform. OKX also reported that it detected unusual activity in a corporate client account, froze the account, and contacted the client. Both platforms stated that other user accounts were not affected. Kraken did not comment at the time the news was published.
How the attacker gained access to the stock market accounts has not yet been determined. ZachXBT stated that, based on the manner in which the funds were moved, they are highly confident that the North Korea-linked Lazarus Group is not responsible. This assessment is an analysis by the researcher, not the result of an official investigation.
*This is not investment advice.
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