On Wednesday, the Federal Bureau of Investigation announced that North Korea is accused of being behind the theft of approximately $1.5 billion worth of virtual assets from the cryptocurrency exchange ByBit. The FBI refers to this malicious cyber activity carried out by North Korea as “TraderTraitor.” The stolen assets have been swiftly converted into bitcoin and distributed among various blockchain addresses, a move expected to precede their further laundering and eventual conversion into traditional currency.

ByBit disclosed on Friday that there was an attack targeting an ether wallet, leading to the transfer of its holdings to an unidentified address. The platform serves over 60 million users globally and offers access to a variety of cryptocurrencies, including bitcoin and ether. In response to the theft, which is considered the largest single digital theft in history, Bybit has recently appealed to cybersecurity experts for assistance in recovering the stolen $1.5 billion.

Source: https://www.theguardian.com/world/2025/feb/27/north-korea-bybit-crypto-exchange-hack-fbi