The U.S. Federal Bureau of Investigation (FBI) announced on Thursday that
North Korea is responsible for the theft of approximately $1.5 billion in
digital assets from a cryptocurrency exchange.
The Dubai-based crypto exchange, Bybit, reported
that hackers stole around $1.5 billion worth of digital assets on February 19,
marking it as the largest cryptocurrency heist ever documented.
The FBI cautioned that these assets would likely
be laundered and ultimately converted into fiat currency.
In its public statement, the FBI referred to
this specific cyber operation by North Korea as “TraderTraitor.”
“Trader Traitor actors are progressing swiftly
and have already converted some of the stolen assets into Bitcoin and other
virtual currencies, which have been distributed across thousands of addresses
on various blockchains,” the FBI stated. “It is anticipated that these assets
will undergo further laundering before being converted to fiat currency.”
Fiat currency is government-issued money that
is not backed by a tangible commodity, such as gold.
In response to the theft, Bybit has launched a
reward program for those who can assist in recovering the stolen funds, along
with an online system designed to trace and freeze the stolen assets.
Ben Zhou, Bybit’s CEO, emphasized that
transparency is not just a core principle, but also the company’s most powerful
tool in the fight against cybercrime.
“We
are committed to ensuring every transaction is visible and every hacker is held
accountable,” said Zhou. “Our multi-faceted approach sends a clear message: if
you steal, you will be caught, and justice will be swift.”