North Koreans finish initial laundering stage after more than $1 billion stolen from Bybit

Summary: North Korean hackers linked to the theft of over billion from crypto platform Bybit have completed the initial laundering stage of the stolen funds, moving them to new addresses. Experts highlight the efficient use of decentralized finance (DeFi) tools to obscure the origins of these assets, posing significant challenges for investigators. The FBI has tied the operation to the notorious TraderTraitor group, urging the cryptocurrency community to assist in tracing the stolen cryptocurrency.

Affected: Bybit

Keypoints :

• Hackers moved stolen ETH coins to new addresses, marking the first step in laundering over billion.
• Decentralized finance (DeFi) tools were utilized to disguise the assets’ origins, demonstrating high operational efficiency.
• The total stolen cryptocurrency is estimated at .4 billion, with about 77% of the funds still traceable.