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Image Credit: Guardian

North Korea behind $1.5bn hack of crypto exchange ByBit, says FBI

  • North Korea is behind the theft of $1.5bn in virtual assets from the cryptocurrency exchange ByBit, according to the FBI.
  • This is being described as the biggest heist in history, surpassing Saddam Hussein's $1bn theft from Iraq's central bank.
  • The stolen assets, currently in bitcoin and virtual assets, are expected to be further laundered and converted into fiat currency.
  • North Korea, operating a cybercrime unit known as the Lazarus Group, has been linked to previous thefts that fund its nuclear and ballistic missile programs.

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