The US based Federal Bureau of Investigation (FBI) has announced charges against North Korea for its purported involvement in the $1.5 billion theft of digital assets from the cryptocurrency exchange ByBit.
The FBI has announced it in its public service announcement. The bureau has also highlighted that a group named “TraderTraitor”, also known as North Korea’s famous hacking “Lazarus Group” was behind the theft.
As per the FBI’s Public Service Announcement, it is also said that the group have converted the stolen digital assets into Bitcoin plus other cryptocurrencies and virtual assets across thousands of addresses on multiple blockchains.
The FBI further added that, “ According to the ByBit it is expected that these assets will be further laundered and eventually converted to fiat currency.”
According to the reports, ByBit CEO Ben Zhou has said on his X post that the ether cold wallet was the only wallet that was attacked and all other wallets of the exchange were unaffected, with withdrawals proceeding normally.
Mario Nawfal has also highlighted on his X post that this attack is the biggest crypto heist in history as the crypto exchange suffered from the hack of 1.5 Billion that resulted in declining of the 5.3 Billion total assets but the funds were safe.
However, global authorities are building up efforts to counter crypto thefts due to growing cyberattacks from North Korea.
Also Read: How ByBit Exchange was Hacked & $1.5B Stolen? Understand Here
