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The Federal Bureau of Investigation, FBI, has accused North Korea of orchestrating the hack of Bybit, the world’s second-largest crypto exchange by trading volume.
The agency declared that DPRK coordinated the theft of approximately $1.5 billion USD in virtual assets from the cryptocurrency company, which serves more than 50 million users.
The cyber attack occurred on or about February 21; the FBI identified the specific North Korean malicious activity as “TraderTraitor.”
The FBI said the actors have converted some of the stolen assets to bitcoin and other virtual assets dispersed across thousands of addresses on multiple blockchains.
“It is expected these assets will be further laundered and eventually converted to fiat currency,” the public service announcement added.
The statement advised private sector entities and other virtual asset service providers to block transactions with or derived from addresses TraderTraitor are using.
The PSA further listed dozens of Ethereum addresses holding or have held assets from the theft, and are operated by or connected to the hackers.
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