The FBI said the North Korean government was “liable” for hacking on Crypto Exchange Bybit, resulting in more than $1.4 billion in Ethereum cryptocurrency being stolen.
On Wednesday, the department issued a public recommendation, and hacked to a group known as Trader Traitors.
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“The Traderraitor actors are moving forward quickly, converting some of the stolen assets into bitcoin and other virtual assets distributed across thousands of addresses on multiple blockchains. These assets are expected to be washed further and eventually converted to Fiat currency,” the FBI wrote.
On February 21, Bybit was the victim of a robbery that had been netted by hackers at around $1.4 billion at the time. Soon after, security companies and researchers accused North Korean government hackers of theft. BYBIT has launched a $140 million bounty to help track and freeze stolen funds.