The Federal Bureau of Investigation (FBI) has accused North Korea of orchestrating a massive $1.5 billion cryptocurrency theft from global exchange platform ByBit.
In a public service announcement on Wednesday, the FBI attributed the attack to a North Korean-linked cyber group known as “TraderTraitor.” The agency revealed that the stolen assets are being swiftly converted into Bitcoin and other digital currencies, dispersed across thousands of blockchain addresses. Officials warn that the funds will likely be laundered and eventually cashed out into fiat currency.
ByBit, which serves over 60 million users globally, confirmed that the breach allowed an attacker to seize control of an Ether wallet and transfer its holdings to an undisclosed address. The exchange, known for trading major cryptocurrencies like Bitcoin and Ether, has yet to disclose further details on the incident.
The FBI continues to monitor the situation and urges the crypto community to remain vigilant against cyber threats.
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