Hole in the blockchain: the FBI is investigating North Korea's scheme to steal $ 40 million in cryptocurrency

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Cybercriminals stole 1,580 bitcoins and spread them across 6 different crypto wallets.

The US Federal Bureau of Investigation (FBI) warned last Tuesday that hackers linked to North Korea may attempt to cash out more than $ 40 million worth of stolen cryptocurrency.

US law enforcement agencies have linked this cyber activity to a group known as TraderTraitor, which also uses the name Jade Sleet.

An FBI investigation revealed that between August 21 and 22, the group transferred about 1,580 bitcoins stolen as a result of several cryptocurrency hacking attacks. Currently, these funds are held in six different crypto wallets.

North Korea is known to blur the lines between cyberwarfare, espionage, and financial crimes. The TraderTraitor group, in particular, is associated with a number of attacks on blockchain exchanges and cryptocurrency exchangers in order to steal digital assets for illegal income from this country, which is under sanctions.

These include the theft of $ 60 million worth of cryptocurrency from Alphapo on June 22, 2023, the theft of $ 37 million from CoinsPaid on June 22, 2023, and the theft of $ 100 million from Atomic Wallet on June 2, 2023, as well as attacks on the Ronin Sky Mavis and Harmony Bridge network last year.

The group overlaps with another North Korean hacker group, APT38 (also known as BlueNoroff or Stardust Chollima), which in turn is part of the larger Lazarus group.

According to TRM Labs, North Korean hackers have stolen more than $ 2 billion worth of cryptocurrencies in 30 attacks since 2018, with about $ 200 million stolen in 2023 alone.

The FBI encourages private companies to analyze the blockchain data associated with these addresses and be vigilant about transactions directly or indirectly related to these addresses.
 
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