North Korea Accused of Executing Largest Crypto Heist in History

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The FBI has attributed the theft of approximately $1.5 billion in digital assets from the cryptocurrency exchange Bybit to North Korean hackers, marking it as the largest cryptocurrency heist ever recorded. In a public service announcement, the bureau identified the group involved as TraderTraitor, also known as the Lazarus Group.

According to the FBI, the hackers moved swiftly after the theft, converting part of the stolen assets into Bitcoin and distributing them across numerous blockchain addresses. The agency warned that these assets are likely to be laundered further and eventually transformed into fiat currency.

The Lazarus Group has been notorious for its cyber activities since at least 2014, including a high-profile hack of Sony Pictures in retaliation for the movie "The Interview," which parodied North Korean leader Kim Jong Un. North Korea's cyber-warfare efforts have reportedly expanded significantly and include a unit known as Bureau 121, consisting of around 6,000 personnel, as reported by the U.S. military in 2020.

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