• The FBI has issued a warning to crypto investors about North Korean hackers looking to sell off $40 million worth of BTC.
• The FBI identified wallet addresses associated with the North Korean hacking group TraderTraitor, also known as Lazarus.
• Investors should be aware of the addresses associated with the hackers and avoid any affiliation with them.
FBI Warns Crypto Investors About North Korean Hackers
The Federal Bureau of Investigation (FBI) has warned cryptocurrency investors that North Korean hackers are looking to unload tens of millions of dollars worth of stolen Bitcoin (BTC) onto the market. The enforcement agency has identified wallet addresses associated with the North Korean hacking group TraderTraitor, also known as Lazarus, and warns investors that they may be looking to cash out $40 million worth of BTC.
Previous Cryptocurrency Heists by North Koreans
The FBI notes that North Korean hackers were responsible for several high-profile crypto heists in June, including $60 million from crypto payments provider AlphaPo, $37 million from crypto wallet provider CoinsPaid, and $100 million from crypto wallet provider Atomic Wallet. Other crypto entities targeted by the group include Harmony’s (ONE) Horizon bridge and Sky Mavis’ Ronin bridge (RON).
Advice for Crypto Investors
The Bureau advises investors to be aware of the addresses associated with the hackers and avoid any affiliation with them. Private sector entities should examine the blockchain data associated with these addresses and be vigilant in guarding against transactions directly with or derived from these addresses.
FBI Combating DPRK’s Use Of Illicit Activities
The FBI says it is continuing its efforts to combat illicit activities used by DPRK – including cybercrime and virtual currency theft – to generate revenue for their regime.
Conclusion
Cryptocurrency companies should remain vigilant in their efforts to protect their wallets against potential theft and must take extra caution when dealing with countries like North Korea who have a history of cybercrime activity targeting digital assets like Bitcoin (BTC).
