The FBI has attributed the theft of approximately $1.5 billion in virtual assets from cryptocurrency exchange ByBit to North Korea, referring to the malicious cyber activity as “TraderTraitor.” The agency stated that the attackers have rapidly converted some of the stolen assets to bitcoin and other virtual assets, spreading them across multiple addresses on different blockchains. It is expected that the assets will be further laundered and converted to fiat currency. ByBit, which serves over 60 million users globally and provides access to various cryptocurrencies, announced that an attacker gained control of an ether wallet and transferred the holdings to an unidentified address. The FBI’s announcement highlights the ongoing threat posed by cybercriminals and the importance of cybersecurity measures in the rapidly evolving cryptocurrency space.
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