hackers traced

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In a startling revelation, the Federal Bureau of Investigation (FBI) has successfully traced bitcoin theft. As a result, a theft of staggering $40 million worth of Bitcoin (BTC) to the notorious hacking group Lazarus Group. In fact, this is closely in link to the North Korean government. This hacking collective, also recognized as Trader Traitor due to its malicious activities, has once again thrust the shadowy world of cybercrime into the spotlight.

The FBI’s investigation uncovered that approximately 1,580 BTCs were stolen recently. However, these digital assets are presently being held in six distinct BTC addresses. Alarming reports suggest that the Lazarus Group might attempt to liquidate these stolen funds, leading to concerns about potential market volatility.

However, this isn’t the first time that Lazarus Group has raised eyebrows. The group has been behind several significant cybercrimes in the crypto realm in recent months. Among these audacious heists, they pilfered $60 million in digital assets from Alphapo, executed a $37 million theft from CoinsPaid, and astonishingly made off with a staggering $100 million from Atomic Wallet—all of which occurred in June of this year.

“The FBI previously provided information on their attacks against Harmony’s Horizon bridge and Sky Mavis’ Ronin Bridge, and provided a Cybersecurity Advisory on TraderTraitor,” the FBI revealed.

In its statement, the FBI urged blockchain companies to meticulously examine the blockchain records. Particularly, of the BTC addresses associated with Lazarus Group’s activities. It also issued a cautionary note to private companies. Further, advising them to be vigilant to avoid inadvertently facilitating transactions linked to these nefarious addresses.

A deeper analysis reveals that Lazarus Group’s activities aren’t individual incidents. North Korean hackers have consistently wreaked havoc on the crypto industry for years. Notably, Lazarus Group targeted the Ronin Network. Further this netwrok underpins the popular Axie Infinity game, resulting in a theft of $540 million last year. Their notoriety also extends to other significant attacks. For example, the manipulation of the KuCoin cryptocurrency exchange, yielding a theft of approximately $281 million.

A leading blockchain intelligence company, TRM Labs published a report. They reported that, North Korean hackers have managed to pilfer more than $2 billion in cryptocurrencies through over 30 attacks in the past five years. This year alone, they’ve stolen $200 million in cryptocurrency, marking more than 20% of all stolen crypto in this period.

The FBI continues its relentless pursuit of exposing and countering the illicit activities of groups like Lazarus. As a result, the crypto industry remains in a perpetual battle against cyber threats. The revelation of the Lazarus Group’s involvement in the recent $40 million Bitcoin theft is a stark reminder that even in the digital realm, security and vigilance are paramount.

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