FBI claims North Korea responsible for history's largest crypto hack
According to the FBI, North Korea is behind a $1.5 billion hack of the Bybit cryptocurrency exchange. Read Full Article at RT.com.
TroibNews 
State-linked hackers have reportedly stolen approximately $1.5 billion in virtual assets from Bybit, a cryptocurrency exchange based in Dubai, according to claims made by the U.S. Federal Bureau of Investigation on Wednesday. This incident, which was reported last week, is believed to represent the largest cryptocurrency hack to date.
The FBI did not pinpoint a specific North Korean group as the perpetrator of the hack, but noted that the attackers utilized a tool known as 'TraderTraitor'. This suite of malicious cryptocurrency applications deceives victims into installing malware under the pretense of job opportunities. Following installation, the malware enables hackers to compromise financial systems and siphon off funds.
According to the agency, the hackers rapidly began converting portions of the stolen assets into Bitcoin and other cryptocurrencies, distributing them across thousands of addresses on various blockchains. The alleged North Korean hackers are expected to eventually launder the funds and convert them to fiat currency to avoid detection, the statement indicated.
Bybit, which caters to over 60 million users, reported that the breach occurred during a routine digital wallet transfer. The exchange stated that hackers took advantage of the process of transferring funds from an offline storage system to a hot wallet used for trading, stealing around 401,000 Ethereum tokens and redirecting them to an unidentified address.
The company described the hack as a “sophisticated attack that masked the signing interface, displaying the correct address while altering the underlying smart contract logic.”
Bybit reported receiving over 350,000 withdrawal requests, cautioning users that this could result in processing delays. It has also called upon cybersecurity and blockchain forensics experts to assist in recovering the stolen assets, offering a 10% reward for any amount that is recovered.
Western intelligence agencies have long accused North Korea of conducting cyberattacks to finance its weapons programs and circumvent international sanctions. The Lazarus Group, one of the alleged North Korean hacking factions, has been associated with previous cryptocurrency thefts, including the $620 million hack of the Ronin Network in 2022.
While North Korea has yet to respond to the FBI's assertions, it has previously refuted claims of involvement in cryptocurrency theft, suggesting that such accusations are attempts to damage the country's reputation.
Sophie Wagner contributed to this report for TROIB News
The FBI did not pinpoint a specific North Korean group as the perpetrator of the hack, but noted that the attackers utilized a tool known as 'TraderTraitor'. This suite of malicious cryptocurrency applications deceives victims into installing malware under the pretense of job opportunities. Following installation, the malware enables hackers to compromise financial systems and siphon off funds.
According to the agency, the hackers rapidly began converting portions of the stolen assets into Bitcoin and other cryptocurrencies, distributing them across thousands of addresses on various blockchains. The alleged North Korean hackers are expected to eventually launder the funds and convert them to fiat currency to avoid detection, the statement indicated.
Bybit, which caters to over 60 million users, reported that the breach occurred during a routine digital wallet transfer. The exchange stated that hackers took advantage of the process of transferring funds from an offline storage system to a hot wallet used for trading, stealing around 401,000 Ethereum tokens and redirecting them to an unidentified address.
The company described the hack as a “sophisticated attack that masked the signing interface, displaying the correct address while altering the underlying smart contract logic.”
Bybit reported receiving over 350,000 withdrawal requests, cautioning users that this could result in processing delays. It has also called upon cybersecurity and blockchain forensics experts to assist in recovering the stolen assets, offering a 10% reward for any amount that is recovered.
Western intelligence agencies have long accused North Korea of conducting cyberattacks to finance its weapons programs and circumvent international sanctions. The Lazarus Group, one of the alleged North Korean hacking factions, has been associated with previous cryptocurrency thefts, including the $620 million hack of the Ronin Network in 2022.
While North Korea has yet to respond to the FBI's assertions, it has previously refuted claims of involvement in cryptocurrency theft, suggesting that such accusations are attempts to damage the country's reputation.
Sophie Wagner contributed to this report for TROIB News
