FBI claims DPRK behind $1.5 billion crypto heist
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The FBI has linked one of the largest crypto heists to the DPRK, alleging the Lazarus group was behind the theft.
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An advertisement of Bitcoin, one of the cryptocurrencies, is displayed on a building in Hong Kong, on November 18, 2021. (AP)
The United States Federal Bureau of Investigation claimed the Democratic People's Republic of Korea (DPRK) was behind the largest crypto heist in history, which saw the theft of $1.5 billion worth of digital assets last week.
"[The DPRK] was responsible for the theft of approximately $1.5 billion in virtual assets from cryptocurrency exchange, Bybit," the FBI claimed in a public service announcement.
The bureau identified TraderTraitor, also known as the Lazarus Group, as the perpetrator of the theft.
According to the FBI, the group is moving swiftly and has already converted part of the stolen funds into Bitcoin and other digital assets, which have been distributed across thousands of addresses on multiple blockchains.
"It is expected these assets will be further laundered and eventually converted to fiat currency," the FBI stated.
The Lazarus Group first gained international attention a decade ago when it was accused of hacking Sony Pictures in retaliation for The Interview, a film that satirized DPRK leader Kim Jong Un.
According to a 2020 US military report, the DPRK’s cyber-warfare efforts date back to the mid-1990s and have since expanded into a 6,000-member cyber unit known as Bureau 121, which operates across multiple countries.
Hackers steal $1.5bln from crypto exchange in 'digital heist'
Earlier, the cryptocurrency exchange Bybit appealed to top cybersecurity experts to assist in recovering the $1.5 billion stolen by hackers.
The Dubai-based crypto platform reported that an attacker took control of an Ethereum wallet, one of the most widely used digital currencies after Bitcoin, and transferred its funds to an unidentified address.
Bybit quickly assured its customers that their cryptocurrency holdings remained secure, with its chief executive stating on social media that the company would fully compensate those affected, regardless of whether the stolen funds were recovered.
"Bybit is solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss," Ben Zhou, Bybit’s co-founder and chief executive, posted on X.
He emphasized that Bybit manages $20 billion in customer assets and could cover any unrecovered funds, independently or through loans from partners.
Latest Update: Bybit has already fully closed the ETH gap, new audited POR report will be published very soon to show that Bybit is again Back to 100% 1:1 on client assets through merkle tree, Stay tuned. https://t.co/QLa1vOujM6
— Ben Zhou (@benbybit) February 24, 2025
