FBI Accuses North Korea of Being Responsible for $1.5 Billion Loss of ByBit Exchange
Feb 27, 2025
Washington [US], February 27: The US Federal Bureau of Investigation (FBI) on February 26 accused the theft of about $1.5 billion in virtual assets from the digital currency exchange ByBit of being linked to a malicious North Korean cyber operation called "TraderTraitor".
"The TraderTraitor attackers are moving quickly and have converted some of the stolen assets into bitcoin and other virtual assets dispersed across thousands of addresses on multiple blockchains ," the FBI asserted.
The FBI predicts that the stolen virtual assets will go through further processing steps and eventually be converted into fiat currency.
ByBit said last week that a hacker gained control of an ether wallet and transferred the ether in that wallet to an unknown address.
The exchange serves over 60 million users worldwide and offers access to a variety of cryptocurrencies, including bitcoin and ether.
There is currently no information about Pyongyang's response to the above accusation.
Source: Thanh Nien Newspaper
