U.S. Intelligence Flags Potential $40M Bitcoin Liquidation by North Korean Hackers
The FBI is urging both public and private sectors to be vigilant regarding 1,580 bitcoins (BTC) acquired by North Korean hacking groups, namely Lazarus Group and APT38. As of August 23, 2023, this cache’s value sits slightly above $41 million, based on current BTC exchange rates. To aid in this surveillance, the FBI disclosed six specific bitcoin (BTC) addresses linked to these funds:
- 3LU8wRu4ZnXP4UM8Yo6kkTiGHM9BubgyiG
- 39idqitN9tYNmq3wYanwg3MitFB5TZCjWu
- 3AAUBbKJorvNhEUFhKnep9YTwmZECxE4Nk
- 3PjNaSeP8GzLjGeu51JR19Q2Lu8W2Te9oc
- 3NbdrezMzAVVfXv5MTQJn4hWqKhYCTCJoB
- 34VXKa5upLWVYMXmgid6bFM4BaQXHxSUoL
Detailing their concerns, the FBI pointed out that the hacking factions from the Democratic People’s Republic of Korea (DPRK) were behind multiple crypto security breaches this year.
The agency specifically noted, “The DPRK Trader-Traitor-affiliated actors were responsible for several high-profile international cryptocurrency heists to include the $60 million theft of virtual currency from Alphapo on June 22, 2023; the $37 million theft of virtual currency from Coinspaid on June 22, 2023; and the $100 million theft of virtual currency from Atomic Wallet on June 2, 2023.”
Additionally, the FBI mentioned:
- The FBI previously provided information on their attacks against Harmony’s Horizon bridge and Sky Mavis’ Ronin Bridge, and provided a Cybersecurity Advisory on Trader-Traitor.
This recent FBI advisory echoes the United Nations’ (UN) findings, which revealed an uptick in crypto-targeted activities by North Korean hackers in 2023. The cyber onslaught isn’t U.S.-centric either. Reports indicate that between 2017 and 2022, DPRK hackers pilfered $721 million in cryptocurrency from Japanese entities.
Concerning the latest DPRK bitcoin intel, the FBI emphasizes that private sector organizations should meticulously scrutinize the blockchain data connected to these addresses, fortifying their defenses against transactions that either directly involve or originate from these addresses.
Hot Take
This advisory from the FBI highlights the ongoing threat posed by North Korean hackers in the crypto space. It serves as a reminder for individuals and organizations in the crypto community to remain vigilant and take necessary precautions to protect their digital assets. By closely monitoring blockchain data and being aware of the specific bitcoin addresses associated with these hackers, it is possible to strengthen security measures and prevent potential losses.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.