FBI Warns Crypto Firms of Stolen Funds
The FBI has issued a warning to cryptocurrency firms, urging them to be vigilant and check blockchain data for wallets associated with the theft of millions in crypto. The agency reveals that hackers linked to the Democratic People’s Republic of Korea (DPRK) have recently transferred $41.8 million in Bitcoin. The FBI provides a list of six crypto wallets holding the stolen funds and advises firms to stop any transactions related to these addresses.
DPRK’s TraderTraitor Applications and Hacks
The DPRK’s Lazarus Group and APT38 are responsible for a series of attacks on crypto and blockchain entities. They use malicious applications, including the “TraderTraitor” app, to target both firms and individual users. The FBI has previously warned about attacks on Harmony’s Horizon Bridge and Sky Mavis’ Ron Bridge.
North Korean Hackers Steal $700 Million in Crypto
South Korea’s National Intelligence Service confirms that North Korean hackers stole $700 million worth of cryptocurrency in 2021. This represents 30% of North Korea’s foreign money earnings. Chainalysis reports that 2022 saw the highest amount of crypto hacking to date, with $3.8 billion stolen from crypto firms. October was the most active month, with $775.7 million stolen across 32 attacks, primarily targeting DeFi protocols.
Hot Take
The FBI’s warning highlights the ongoing threat of cyber attacks on the cryptocurrency industry. Crypto firms must take immediate action to protect their assets and prevent further losses. It is crucial for the industry to implement robust security measures and collaborate with law enforcement agencies to combat these threats effectively.
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