North Korean hackers behind $1.5 billion crypto hack: Security firm
Share and Follow


North Korean hackers were behind a sophisticated hack that stole about $1.5 billion worth of digital currency from Bybit, a major cryptocurrency exchange, according to security firm TRM.

“TRM has determined – with high confidence – that the Bybit hack was perpetrated by North Korean hackers,” a statement from the firm read Friday.

“This assessment is based on substantial overlaps observed between addresses controlled by the Bybit hackers and those linked to prior North Korean thefts,” the statement continued.

TRM said the firm was able to tag and track in real time the movement of the stolen $1.5 billion in Ethereum tokens.

The Hill has reached out to the FBI for comment.

North Korean state hackers have been linked to several high-dollar crypto thefts in recent years. In December, the FBI, the Defense Department, and the National Police Agency of Japan issued a joint statement blaming North Korean hackers for the theft of $308 million from a Japanese crypto firm.

Bybit said on Friday a routine transfer of Ethereum digital wallets was “manipulated” by an attacker who transferred the crypto to an unidentified address.

The company sought to reassure customers that their cryptocurrency holdings with the exchange were safe. The company added that news of the hack had led to a surge in withdrawal requests and there could be delays in processing them.

Bybit CEO Ben Zhou said on social media that his company would remain solvent even if the hacked crypto wasn’t recovered.

“We can cover the loss,” he said.

The Associated Press contributed.

Share and Follow
You May Also Like

Scandal Unveiled: School Superintendent Admits to Citizenship Fraud and Illegal Firearm Possession

Guyana Native Overstayed Student Visa, Registered as Democrat Voter, and Armed…

Outrage Erupts as Trump Criticizes NATO Troops’ Role in Afghanistan

Donald Trump has ignited controversy with his recent remarks suggesting that UK…

Legal Turmoil for Harvey Weinstein’s British Ex-Wife: Staff Launch Lawsuit Over Unpaid Wages

Georgina Chapman, renowned for her star-studded creations, recently graced the red carpet…

Keir Starmer Calls for Apology from Donald Trump Amidst Transatlantic Tensions Over Controversial Remarks on British Afghan War Casualties

In a strong rebuke, Sir Keir Starmer today criticized Donald Trump, calling…

Syria Calls on EU to Repatriate Citizens Amid Rising ISIS Prison Break Concerns

A senior official from al-Aqtan prison in Raqqa, Syria, issued an urgent…

Trump Administration Scrutinizes $88 Million Pandemic Loan Allocation to Planned Parenthood

The Small Business Administration (SBA) has launched an investigation into whether Planned…

Arizona AG Mayes Raises Controversy with Comments on Citizens Defending Against Masked ICE Agents

In Minnesota, the persistent unrest continues as demonstrators relentlessly target ICE…

DHS Announces Deportation of Columbia University Pro-Palestinian Activist Mahmoud Khalil to North Africa

The Department of Homeland Security announced on Thursday that Mahmoud Khalil,…