Last Updated: August 27, 2023
• The FBI has linked part of stolen crypto funds worth over $40 million to North Korean hackers.
• It is believed that these funds were stolen in recent high-profile international cryptocurrency heists, including the exploit on Atomic Wallet and CoinsPaid.
• The FBI has urged private sector entities to check blockchain data associated with the addresses and be vigilant against transactions derived from them.
FBI Tracks Down Stolen Bitcoin by North Korean Hackers
The U.S. Federal Bureau of Investigation (FBI) announced on August 22nd that it had linked part of stolen crypto funds worth over $40 million to North Korean hackers associated with TraderTraitor. These 1,580 Bitcoin are held in six different crypto wallets and believed to have been stolen in recent high-profile international cryptocurrency heists, including the exploit on Atomic Wallet, CoinsPaid, and AlphaPo.
Warning Issued to Crypto Firms
The FBI issued an advisory to crypto firms warning them to be wary of malicious activity on their networks as the hackers look to cash out the stolen funds. Private sector entities should examine the blockchain data associated with these addresses and be vigilant in guarding against transactions directly with, or derived from, the addresses.
Lazarus Group Implicated
Two groups connected to North Korea are suspected to be behind the stolen funds – APT38 and Lazarus Group – which is seen as being most active in this case. Blockchain Intelligence company TRM Labs recently reported that Lazarus Group has stolen over $2 billion in crypto in the last five years, with 2023 accounting for $200 million.
How Did The FBI Seize Crypto?
The FBI seized $1.7 Million in Crypto as part of its ongoing crackdowns on illicit activities related to virtual currency transactions . They were able to track millions of dollars worth of cryptocurrency through analysis of blockchain data .
Biggest Hacks In Crypto Exchange History
Read about some of the biggest hacks ever seen affecting exchanges such as Mt Gox , Coincheck , Bitfinex , Bithumb , Upbit , Coinsecure , KuCoin , Zebpay , Zaif , Bitgrail and more here: 12 Biggest Hacks In Crypto Exchange History