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DWF Labs Allegedly Lost $44M in 2022 Cyberattack
Crypto-Detective
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Market maker DWF Labs reportedly lost over $44 million in a 2022 cyberattack linked to the North Korea-affiliated AppleJeus group.
The breach, which targeted stablecoins USDC and USDT, allegedly occurred in September 2022 and involved a wallet connected to DWF Labs. Hackers reportedly compromised both private keys and exchange credentials, draining funds over several hours.
On-chain analysis shows the stolen assets were moved via the Ren Protocol bridge to Bitcoin and have remained largely dormant, though recent activity has seen some funds go through the Mixero custodial Bitcoin mixer.
