North Korea Blamed For $1.5 Billion Crypto ByBit Theft, FBI Warns Of Laundering To Fiat Currency

The FBI announced Wednesday that North Korea stole about $1.5 billion in virtual assets from cryptocurrency exchange ByBit. The agency attributed the cyber theft to a group it calls TraderTraitor. The hackers have converted some stolen assets to bitcoin and other virtual currencies, dispersing them across multiple blockchains. The FBI warned that the funds will likely be further laundered and converted into fiat currency. ByBit disclosed Friday that an attacker took over an ether wallet and transferred holdings to an unidentified address.