• The US FBI has alerted crypto firms that North Korean hackers are attempting to cash out stolen Bitcoin worth over $40 million.
• The infamous hacker groups Lazarus and APT38 have moved 1,580 Bitcoin from several crypto heists in the past 24 hours.
• North Korea-linked actors are estimated to have stolen over $2 billion in cryptocurrencies in the last 5 years.
The US Federal Bureau of Investigations (FBI) alerted crypto firms on Tuesday, that North Korean hackers may soon attempt to cash out stolen Bitcoin worth over $40 million.
Hacker Groups Lazarus & APT38
The infamous hacker groups from the Democratic People’s Republic of Korea (DPRK) – Lazarus and APT38 – have moved close to 1,580 Bitcoin (BTC) from several cryptocurrency heists over the past 24 hours and held in six different wallet addresses, FBI tracks.
TraderTraitor Hacking Group
The ‘TraderTraitor’ hacking group has been found responsible for a series of big crypto-related heists with the goal of generating illicit revenue for the sanction-hit nation. TraderTraitor apparently entices recipients to download malware-laced cryptocurrency applications.
Stolen Crypto Funds Used For Nuclear Weapons Program?
A recent report by the blockchain analytics firm TRM Labs revealed that North Korean hackers are estimated to have stolen over $2 billion in cryptocurrencies in the last 5 years, with $200 million stolen in 2023 alone. Per Erin Plante, vice president of investigations at Chainalysis and a cyber financial crime expert, this money is being used by North Korea’s government to fund its nuclear weapons program.
US Treasury Sanctions Addresses Linked To North Korea
In April, the US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned several addresses linked to North Korea, with crypto exchange Binance helping the department seize $4.4 million. The FBI will continue to expose and combat DPRK’s use of illicit activities – including cybercrime and virtual currency theft – for its own gain.