FBI Warns Crypto Firms of Stolen Funds by DPRK Hackers: Urges Immediate Action
The Federal Bureau of Investigation (FBI) has issued a strong warning to cryptocurrency firms, urging them to take immediate action against the theft of funds by hackers associated with the Democratic People’s Republic of Korea (DPRK). The FBI has revealed that these hackers, known as TraderTraitor-affiliated actors, have recently transferred approximately $41.8 million USD in Bitcoin. They caution that these stolen funds might soon be converted into cash, further complicating the situation.
To assist crypto firms in identifying and preventing transactions related to the stolen funds, the FBI has provided a list of six crypto wallets where the funds are currently held. They strongly advise these firms to thoroughly check their blockchain data and halt any transactions connected to these addresses.
This warning comes after a series of attacks carried out by DPRK hackers in 2023 alone. In June, they successfully stole $60 million in crypto from Alphapo and an additional $37 million from CoinsPaid. Earlier in the same month, they managed to seize $100 million of crypto from Atomic Wallet. The Lazarus Group and APT38, known DPRK hacking groups, are responsible for these malicious activities, targeting crypto and blockchain entities.
The FBI has not been shy in issuing warnings concerning DPRK’s attacks on crypto firms in recent times. Notable incidents include significant hacks on Harmony’s Horizon Bridge and Sky Mavis’ Ron Bridge. In June 2022, hackers exploited a security flaw in Harmony’s blockchain multi-sig wallet, resulting in the theft of almost $100 million.
The scale of crypto theft by North Korean hackers in 2022 is alarming. According to a senior officer from South Korea’s National Intelligence Service (NIS), these hackers stole approximately $700 million in crypto last year. The NIS officer further believes that this stolen amount accounts for around 30% of North Korea’s foreign money earnings.
It is crucial that cryptocurrency firms respond quickly to the FBI’s warning and take necessary measures to protect their systems and customers. By thoroughly checking blockchain data and identifying the wallets associated with stolen funds, these firms can play a vital role in preventing further losses. As the threat of cyberattacks continues to evolve, it is essential to remain vigilant in the face of cybercriminals and safeguard the integrity and security of the cryptocurrency industry.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Seek professional advice before engaging in any financial transactions.
