The FBI announced that North Korea is responsible for stealing around $1.5 billion in virtual assets from the cryptocurrency exchange ByBit, referring to this cyber activity as “TraderTraitor.” The hackers are swiftly converting some of the stolen assets into bitcoin and dispersing them across numerous addresses on different blockchains. It is expected that the assets will be further laundered and eventually converted into fiat currency. ByBit reported that an attacker gained control of an ether wallet and transferred the holdings to an unidentified address. The exchange has over 60 million users globally and provides access to various cryptocurrencies such as bitcoin and ether.
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