Public appeal released by the U.S. Federal Bureau of Investigation (FBI) encouraging bitcoin exchanges, node operators, and blockchain service providers to stop transactions tied to the significant Bybit hack. With stolen money being laundered across several blockchains, the October 21 cyberattack resulted in a $1.4 billion theft.
The FBI claims that Lazarus, sometimes known as TraderTraitor, APT38, BlueNoroff, and Stardust Chollima, is a North Korean-backed hacking gang that coordinated the attack. The agency has urged industry players to stop transactions linked to 51 Ethereum addresses found linked to the hackers.
The FBI said, “The attackers are swiftly moving the stolen assets, converting them into Bitcoin and other cryptocurrencies, and then spreading them across thousands of blockchain addresses.” “It is expected that these funds would continue to be laundered and finally converted into fiat currency..
Over 11,000 crypto wallets possibly connected to the Bybit hack have been discovered by blockchain analytics company Elliptic. To evade Know Your Customer (KYC) rules and hide the path of stolen money, the hackers reportedly employed distributed exchanges, cross-chain bridges, and rapid swap services.
Authorities warn that although an additional 363,900 Ether, worth about $825 million, remains unharmed, over 135,000 Ether have already been laundered since the original incident. The FBI’s continuous operations urge people with pertinent information to report specifics to the Internet Crime Complaint Center.
As hackers keep using blockchain technology to transfer illegal money, this most recent instance emphasizes the increasing difficulties in stopping cybercrime inside the cryptocurrency sector. The FBI’s call to action is absolutely vital in stopping the laundering process and stopping more industry financial damage.
