Tag: Crypto Hack

FBI Links North Korea to Record-Breaking $1.5 Billion ByBit Hack

Summary: The FBI blamed North Korea’s Lazarus Group for orchestrating the record $1.5 billion ByBit crypto exchange hack. The money was reportedly traded for Bitcoin and other cryptocurrency, with the potential that it will be laundered into fiat.

The FBI officially attributed the hacking of ByBit’s $1.5 billion cyber theft last month to North Korea’s Lazarus Group. In its official statement, the agency spelled out how pilfered assets were laundered through thousands of blockchain addresses by hackers, or “TraderTraitor.”.

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ByBit CEO Ben Zhou confirmed on X that the attack targeted the exchange’s ether cold wallet, leaving all other wallets unaffected and withdrawals functioning as usual. Despite the massive breach, the platform’s total assets remain at $5.3 billion.

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Crypto entrepreneur Mario Nawfal called the ByBit hack the largest crypto heist in history. With North Korean cyber threats escalating, global authorities are intensifying efforts to combat digital asset theft.

South Korea and the US Squad Up to Fight North Korean Crypto Hackers

Summary: South Korea and the US are joining forces to clap back at North Korean hackers. With Lazarus Group pulling off billion-dollar heists, this partnership is all about locking down crypto platforms and hunting stolen funds.

Crypto Heists Meet Their Match

In a serious power move, South Korea and the US Department of Homeland Security have teamed up to kick crypto security into high gear. They’re throwing down until 2026 to cook up next-level tech that stops hackers dead in their tracks. This isn’t just about playing defense they’re also working on ways to trace stolen crypto and figure out how these digital thieves turn their loot into untraceable assets.

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Lazarus Group: The OG Crypto Bandits

North Korea’s Lazarus Group is the ultimate villain squad, allegedly swiping $1.34 billion in crypto this year alone. From taking down WazirX to hitting Hyperliquid, they’ve been on a hacking spree. These funds allegedly bankroll North Korea’s nukes, which makes stopping them a major flex for global security.

Tornado Cash Drama

The hackers love using tools like Tornado Cash to vanish with their stolen bags. The US Treasury says it’s a laundering playground, but courts argue its smart contracts don’t belong to anyone. It’s a messy, high-stakes battle, but South Korea and the US are coming in hot to shut down the shady business.

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