DarkSide moves $7 million worth of Bitcoin

The CEO and co-founder of cybersecurity firm Profero, Omri Segev Moyal, announced that 107 bitcoins from a DarkSide wallet were recently moved to new wallets.

The group also stated that the funds were moved via small transactions to make it more difficult to track the money.

While screenshots shared by Moyal showed that transactions began at 7.05am GMT on October 21, 2021, with the initial value pegged at just under $7 million, blockchain analytics firm Elliptic revealed the process by which DarkSide Bitcoin moved through different wallets shrinking from 107.8 BTC to 38.1 BTC.

They also noted that while the action pointed to a typical money laundering technique used by criminals to prevent prosecution, such actions continued with small amounts of money that are said to have already been transferred to known exchanges.

For many, this may be a tactical plan by DarkSide, after it was revealed that REvil ransomware operations ceased after the gang’s hidden Tor service was hijacked during an international law enforcement operation.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

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