FBI Urges Crypto Companies to Block Bybit Hackers' Transactions
Date: 2025-02-28 Author: Oliver Abernathy Categories: BUSINESS
According to the agency's report, the hack was carried out by North Korean groups Lazarus Group, APT38, BlueNoroff, and Stardust Chollima. The FBI has grouped them under the name TraderTraitor. These cybercriminals quickly moved some of the stolen assets into bitcoin and other cryptocurrencies, distributing them across thousands of addresses on various blockchains. Experts expect that the attackers will continue to launder the funds and eventually convert them to fiat.
Since the attack on Bybit on February 21, hackers have already cashed out more than 135,000 Ethereum. The remaining 363,900 ETH, valued at $825 million, have not yet been used in transactions.
According to Chainalysis analysts, some of the stolen assets were converted into bitcoins, DAI stablecoins, and other tokens. To do this, the criminals used decentralized exchanges (DEX), cross-chain bridges, and KYC-free instant exchange services.
The FBI provided the industry with a list of 51 Ethereum addresses associated with TraderTraitor so that companies could prevent interactions with them.
Earlier, Elliptic analysts identified 11,084 crypto wallets that were allegedly involved in laundering funds stolen from Bybit.
