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FBI Accuses North Korean Hackers of $1.5 Billion Crypto Heist

  • The FBI has attributed one of the largest-ever cryptocurrency thefts to hackers linked to North Korea, accusing them of stealing around $1.5 billion worth of Ethereum from a Dubai-based company.
  • The cybercriminals targeted the major cryptocurrency exchange, Bybit, and are associated with hacker groups TraderTraitor and Lazarus Group, previously implicated in large-scale cyber heists.
  • The FBI believes that North Korean-backed hackers were responsible for the theft, with stolen assets being converted to various virtual assets, eventually to be laundered and converted to fiat currency.
  • North Korea has been involved in an estimated $1.2 billion in cryptocurrency theft over the past five years, using cyberattacks to finance its fragile economy and nuclear weapons program.

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