The FBI has attributed the theft of $1.5 billion in virtual assets from ByBit to North Korea, referring to this malicious cyber activity as “TraderTraitor.” The agency stated that the attackers have rapidly converted some of the stolen assets into bitcoin and other virtual assets, which are now spread out across thousands of addresses on multiple blockchains. It is expected that these assets will be further laundered and eventually converted into fiat currency. ByBit confirmed that an attacker had gained control of an ether wallet and transferred the holdings to an unidentified address. ByBit is a popular cryptocurrency exchange serving over 60 million users globally and offering access to various cryptocurrencies, including bitcoin and ether. The incident highlights the ongoing threat of cyberattacks targeting cryptocurrency exchanges and the importance of robust security measures to protect user assets.
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