Federal Bureau of Investigation involved North Korean piracy groups in a great theft in the cryptocurrency with $ 1.5 billion in digital assets.
The electronic attack targeted bybit, a Dubai -based cryptocurrency, which makes it one of the largest coding theft. This incident drew attention to the continuous role of North Korea in financial crimes that support the Internet.
The FBI blames the North Korean infiltrators for $ 1.5 billion
The infiltrators – who were defined as Tradertraitor and Lazarus Group – have published harmful programs through modified encrypted currency trading applications, allowing them to seize Ethereum and convert them into other encrypted currencies, according to the FBI statement on Wednesday.
The stolen money was quickly transferred to thousands of portfolio addresses across several groups. The FBI is eventually suspected of these assets that will be washed and converted into Fiat currency.
While the North Korean government has not recognized the theft, reports of South Korea intelligence agencies indicate that North Korea has stolen $ 1.2 billion of cryptocurrencies over the past five years.
Washington Post noticed this:
It is a rare source of foreign currency that affects its need to support its fragile economy and finance its nuclear program in the face of severe sanctions at the United Nations and close the strict borders of North Korea during the Koronaf virus. The United Nations Experts Committee said separately that it was achieved in 58 of the electronic attacks suspected by North Korea between 2017 to 2023, which witnessed about 3 billion dollars that stole “to help finance the country’s development of weapons of mass destruction.”
In response and its effects in industry
Ben Zhou, the founder and CEO of Ben Zhou, addressed the FBI’s charges by linking to a site that provides rewards for tracking and freezing stolen assets.
https://t.co/fthw8gist9 https://t.co/sdxpifnhug
Benbybit February 27, 2025
The Stock Exchange revealed that the attack involves an advanced exploitation targeting their unrelated or “cold” wallets, which are generally safer than online storage. According to Blockchain Analytics Center, this breach ranks first as the largest penetration associated with Blockchain so far.
🚨bybit technical analysis of accidents
The cabinet attack exceeded multiple Sig guarantees, deceiving the two positions to agree to upgrade the malicious contract. Take advantage of the infiltrators:
🔹 Middle solution (via social engineering)
🔹 Blind signature (UI deception on Safe {Wallet} + LEDGER)🛡learn … pic.twitter.com/FwNTDBSKCCCCCCCCCCCCCCCCCCCC
Certik (CERTIK) February 23, 2025
Blockchain Manuel Veligas analyst Make up The attackers used the exploitation of a “blind signature”. This method includes a fake user interface that mimics the legal statute, which deceives users to authorize unauthorized transactions.
The repercussions of this violation extended beyond the BYBIT ecological system, which led to a decrease in the prices of cryptocurrencies in general. Bitcoin has so far faced a significant decrease to a decrease to $ 82,000 on Wednesday.
Industry observers indicate that this incident will increase the organizational scrutiny in the exchange of cryptocurrencies and its security measures.
A distinctive image created with Dall-E, the tradingView chart
