The US Federal Bureau of Investigation (FBI) has accused North Korea of orchestrating a massive cryptocurrency theft amounting to $1.5 billion, making it the largest crypto heist in history.
In a public service announcement on Wednesday, the FBI revealed that North Korean hackers were responsible for the breach of cryptocurrency exchange Bybit.
“North Korea was responsible for the theft of approximately $1.5 billion in virtual assets from cryptocurrency exchange Bybit,” the bureau stated.
According to the FBI, the hacking group behind the attack is known as TraderTraitor, also referred to as the Lazarus Group.
The bureau further noted that the stolen assets are being rapidly converted into Bitcoin and other digital currencies across thousands of blockchain addresses.
The Lazarus Group has been linked to several high-profile cybercrimes, including the 2014 hack of Sony Pictures in retaliation for “The Interview,” a satirical film that mocked North Korean leader Kim Jong Un.
North Korea’s cyber-warfare operations date back to the mid-1990s but have since expanded significantly. A 2020 US military report estimated that the country’s cyber unit, Bureau 121, now consists of around 6,000 personnel operating from various locations worldwide.
