The Bybit cryptocurrency exchange had one of its ether wallets compromised on Friday, February 21, which resulted in hackers making off with around $1.5 billion worth of crypto. According to a statement from the FBI on Wednesday, the Democratic People’s Republic of Korea (DPRK or North Korea) was responsible for the hack. The communist country's hackers used TraderTraitor (PDF) applications to gain illicit access to the exchange’s system.
“TraderTraitor actors are proceeding rapidly and have converted some of the stolen assets to Bitcoin and other virtual assets dispersed across thousands of addresses on multiple blockchains,” the FBI said in its advisory. “It is expected these assets will be further laundered and eventually converted to fiat currency.”
