North Korea Behind $1.5 Billion Crypto Theft — FBI

The US Federal Bureau of Investigation on Wednesday accused North Korea of being behind the theft of $1.5 billion worth of digital assets last week, the largest crypto heist in history.

“(North Korea) was responsible for the theft of approximately $1.5 billion USD in virtual assets from cryptocurrency exchange, Bybit,” the FBI said in a public service announcement.

The bureau said a group called TraderTraitor, also known as the Lazarus Group, was behind the theft.

It said they were “proceeding rapidly and 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 FBI added.

Lazarus Group gained notoriety a decade ago when it was accused of hacking into Sony Pictures as revenge for “The Interview,” a film that mocked North Korean leader Kim Jong Un.

North Korea’s cyber-warfare program dates back to at least the mid-1990s.

It has since grown to a 6,000-strong cyber-warfare unit known as Bureau 121 that operates from several countries, according to a 2020 US military report.
–AFP