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.