North Korean Hackers Behind Biggest Crypto Theft in Bybit Exchange, FBI Reveals, Bitcoin, Ether

Last month, hackers broke into the system of Bybit Crypto Exchange. The cryptocurrency of about $ 1.5 billion was stolen in this hacking. It was described as the biggest theft of cryptocurrency. The US Federal Bureau of Investigation (FBI) has reported that it consisted of North Korea hackers.

The FBI has asked the crypto firms to help block the stolen funds. The investigating agency has stated that North Korea’s hackers are using the ‘Tradertraitor’ activity to convert stolen funds to other crypto tokons. With this, Crypto Tokans are being transferred to thousands of wallets. simultaneously FBI Has also released a list of several ethereum wallet addresses, which has some part of the stolen cryptocurrency. These crypto wallet addresses are associated with North Korea’s hackers.

Bybit’s Chief Executive Officer, Ben Zhou had reported that the hacker had controlled one of the offline Etreum Wallets of the exchange. However, the total damage to the exchange in this hacking has not been detected. Bybit may cause a loss of about $ 1.5 billion. The case of hacking had a major impact on the crypto market. Due to this, many cryptocurrencies, including the biggest cryptocurrency bitcoin, fell in terms of market value. In this case, the price of this crypto token has decreased significantly due to the theft of a large number of ether.

The Dubai’s Crypto Exchange has found in its forensic investigation that hackers had inserted a Malician code in its system and an access of Etreum Wallet was taken from it. Bybit has reported that there is no indication of any disturbance inside his system. Recently, bybit had said that it has paid a fine of more than nine crore rupees in India. The Financial Intelligence Unit (FIU) imposed this exchange for this exchange for not following the rules. Along with this, bybit has also registered with FIU. It is mandatory for all Crypto firms doing business in the country to register with FIU. FIU had reported that this exchange did not follow the Prevention of Money Laundering Act (PMLA).