The US Federal Bureau of Investigation (FBI) has attributed the theft of approximately $1.5 billion in digital assets to North Korea. The cybercrime, which is now regarded as the largest cryptocurrency heist in history, targeted the cryptocurrency exchange Bybit.
In a public service announcement, the FBI identified the hacking group TraderTraitor also known as the Lazarus Group as the perpetrators. The FBI revealed that the group has been rapidly converting some of the stolen funds into Bitcoin and other digital currencies, which have been dispersed across multiple blockchain addresses.
The bureau also noted that these assets are expected to be laundered and eventually exchanged for fiat currency.
The Lazarus Group gained international notoriety over a decade ago for its hack on Sony Pictures, which was reportedly carried out as retaliation for the 2014 film The Interview, a satirical portrayal of North Korean leader Kim Jong Un.
North Korea’s cyber-warfare activities are believed to be supported by a vast unit known as Bureau 121, which has been active since the mid-1990s. According to a 2020 US military report, the unit has expanded into a 6,000-member team operating from multiple countries.
