FBI Tracks Down 1,580 Bitcoin Stolen by North Korean Hackers

The FBI has tracked millions of dollars in crypto believed to have been stolen by North Korean hackers.

Kim Jong Un appears to be confused as looking at a large stash of Bitcoins with his admirals.
Created by Gabor Kovacs from DailyCoin
  • The FBI has tracked millions of dollars in stolen crypto funds.
  • The funds are held by a dreaded cybercrime group.
  • The investigator warns crypto firms to be wary of the group.

The U.S. Federal Bureau of Investigation (FBI) announced on August 22nd that it had linked part of stolen crypto funds worth over $40 million to North Korean hackers. The investigator noted that the hackers are affiliated with TraderTraitor and hold 1,580 Bitcoin in six different crypto wallets.

Funds Stolen in Several “Crypto Heists”

The FBI believes the tracked Bitcoin might have been stolen in recent high-profile international cryptocurrency heists, including the exploit on Atomic Wallet, where an estimated 5,500 customer wallets were compromised and over $35 million stolen on June 2nd.

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The investigator linked the group behind the stolen funds to other attacks, including the $37M theft of virtual currency from crypto wallet provider CoinsPaid on June 22nd and the theft of $60M in virtual currency from centralized crypto payment provider AlphaPo, also on June 22nd.

The FBI’s statement issued an advisory to crypto firms, warning them to be wary of malicious activity on their networks as the hackers look to cash out the stolen funds.

“Private sector entities should examine the blockchain data associated with these addresses and be vigilant in guarding against transactions directly with, or derived from, the addresses,” read the announcement.

The Lazarus Group Implicated

Although two groups connected to North Korea are suspected to be behind the stolen funds, including APT38, the Lazarus group is seen to be the most active. According to the FBI, the Atomic Wallet attack is connected to the Lazarus Group, as confirmed by Elliptic on June 6th.

Blockchain Intelligence company TRM Labs recently reported that the Lazarus Group has stolen over $2 billion in crypto in the last five years, with 2023 accounting for $200 million.

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Here is how the FBI seized crypto believed to be involved in illicit activities:
FBI Seizes $1.7 Million in Crypto in Ongoing Crackdown

Read about the biggest hacks to ever happen in crypto exchanges:
12 Biggest Hacks in Crypto Exchange History

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.