A blockchain researcher, tanuki42, has revealed a $44 million hack at DWF Labs in September 2022, allegedly executed by the DPRK-linked group AppleJeus. The attack involved draining a project address and moving funds from centralized exchanges, suggesting compromised private keys. The stolen assets, mainly USDC and USDT, were converted to Bitcoin via the Ren Protocol and transferred to the mixer Mixero. DWF Labs has not confirmed the incident as of November 2025. The hack shares similarities with previous breaches at Deribit, Tower Capital, and Radiant. The affected wallet was linked to DWF Labs through its interactions with Yield Guild Games, a known partner. Approximately $30 million of the stolen assets remain inactive. Researcher tanuki42 has enlisted the help of on-chain investigator ZachXBT and cybersecurity firm TRM Labs to further investigate the breach.