• Home
  • Scams
  • FBI Alerts to Potential Sale of $40 Million in Bitcoin by North Korean Hackers

FBI Alerts to Potential Sale of $40 Million in Bitcoin by North Korean Hackers

Aug 23, 2023 at 01:46 pm

The Federal Bureau of Investigation (FBI) has made significant progress in the identification of six wallets associated with North Korean hacking groups known as Lazarus Group and APT38, revealing a looming potential threat in the world of cryptocurrencies.

In an official statement released on Tuesday, the FBI expressed concerns over the possible endeavors of North Korean hackers to convert pilfered bitcoin (BTC) worth more than $40 million. The primary focus was on Lazarus Group and APT38, both operating out of North Korea and suspected of orchestrating a series of recent cryptocurrency thefts. Among these notable incidents were a $60 million heist from payment processor Alphapo and a breach of $100 million aimed at Atomic Wallet.

Earlier this year, the FBI had established connections between these two groups and the Horizon Bridge hack that took place in the previous year, resulting in losses exceeding $100 million.

Through this comprehensive investigation, the FBI successfully identified six wallets collectively containing 1,580 bitcoins, amounting to $41 million, with direct associations to these hacking entities. Consequently, the FBI issued an advisory warning to cryptocurrency companies, urging them to abstain from interactions with these wallets to mitigate potential risks.

With unwavering resolve, the FBI declared, "The FBI will continue to expose and combat the DPRK’s use of illicit activities—including cybercrime and virtual currency theft—to generate revenue for the regime." This reaffirms the agency's steadfast commitment to confronting potential threats stemming from such activities and safeguarding the credibility of the cryptocurrency ecosystem.

Related News

Sign up for daily crypto news in your inbox

Get crypto analysis, news and updates right to your inbox! Sign up here so you don't miss a single newsletter.