FBI: North Korea’s “TraderTraitor” Gang Behind $1.5B Bybit Hack
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- FBI has indicted North Korea as being behind the recent Bybit crypto exchange hack.
- The agency referred to the malicious attack as “TraderTraitor.”
- Bitcoin struggles to recover after last weekend’s post-hack crypto market crash.
The Federal Bureau of Investigation (FBI) has indicted North Korea as culprits behind the Bybit crypto exchange hack.
The agency released a public service announcement on Wednesday, February 26, referring to the malicious attack as “TraderTraitor.”
FBI: North Korea’s “TraderTraitor” Laundered Stolen Crypto
According to the FBI’s report, TradeTraitor swiftly converted some stolen assets to Bitcoin and other cryptocurrencies, sending them to thousands of wallet addresses across multiple blockchains. The top security outfit projects that the hacker aims to launder and eventually convert the stolen digital assets to fiat.
The FBI’s report illuminates the recent Bybit hack, which most analysts described as the biggest crypto exchange hack in history. The renowned exchange suffered an attack last Friday after a hacker gained control of an Ether wallet, stealing approximately $1.5 billion worth of digital assets by tr…
The post FBI: North Korea’s “TraderTraitor” Gang Behind $1.5B Bybit Hack appeared first on Coin Edition.
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