The post FBI Confirms North Korean Hackers Stole $1.5B from Bybit appeared on BitcoinEthereumNews.com.

FBI confirms North Korean hackers stole $1.5B from Bybit, urging crypto firms to block transactions and prevent the laundering of stolen crypto. The Federal Bureau of Investigation (FBI) has issued a security advisory confirming that North Korean hackers were responsible for a massive cryptocurrency theft. The Bybit exchange became the target of the attack, which resulted in digital asset losses amounting to $1.5 billion. Later, the FBI requested cryptocurrency service providers to adopt measures. Cryptocurrency service providers have been instructed to cut off all transactions that stem from hacker control of funds. The prevention of stolen fund laundering serves as the main purpose for this precautionary measure. The FBI traced the culprits of the attack to the hacker organization “TraderTraitor.” The cybercriminals focus their attacks on cryptocurrency platforms to carry out their hackings. The FBI reports that the attack took place on February 21, 2025. The hacked assets went through conversion into Bitcoin, according to investigational findings. Hundreds of blockchain addresses identify where multiple stolen assets have been distributed. A process of laundering the stolen funds will take place before they are converted into fiat currency. The FBI demands that cryptocurrency service providers establish blocking rules for every transaction that uses these addresses under hacker control. The situation requires swift action to stop additional financial criminal activities. Bybit Hack Exposes Growing Cyber Threats in Finance The cyberattack forced Bybit to endure substantial economic damage. The audited reports showed that cyber attackers managed to obtain more than $1.5 billion through Ethereum-based token transactions. Security risks continue to persist as a major challenge in the digital asset sector. The attack has generated worries because it suggests North Korean involvement in cybercriminal activities. The internet hackers working for North Korea have carried out numerous major cryptocurrency thefts throughout the past few years. The…

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Filed under: News - @ February 27, 2025 1:22 pm