North Korean Hackers Steal $1.5 Billion in Cryptocurrency

The Federal Bureau of Investigation (FBI) has issued a security advisory confirming a massive cryptocurrency theft, with North Korean hackers stealing $1.5 billion from the Bybit exchange. The hack, which took place on February 21, 2025, was carried out by the hacker organization "TraderTraitor," known for targeting cryptocurrency platforms.

The stolen assets were converted into Bitcoin and distributed across hundreds of blockchain addresses. The FBI has urged cryptocurrency service providers to block transactions using these addresses to prevent the laundering of stolen funds. The agency has also requested that these providers adopt measures to cut off all transactions stemming from hacker control of funds.

The cyberattack on Bybit has exposed growing cyber threats in the finance sector. Audited reports showed that cyber attackers managed to obtain more than $1.5 billion through Ethereum-based token transactions. The attack has raised concerns about North Korean involvement in cybercriminal activities, as the country's sanctioned economy relies on these funding activities.

Security authorities and cybersecurity experts are working together to monitor unusual blockchain transactions and track the path of the stolen funds. However, recovering the substantial sum proves to be an extremely challenging task. Experts have called for stronger measures to defend against future cyberattacks and for cryptocurrency platform operators to develop robust defenses.

Governments worldwide have stepped up their efforts to control the financial sector and fight against monetary criminal activity. The FBI is working with international members to follow the trail of the stolen funds and prevent additional financial criminal activities.