FBI Warns Of A Massive North Korean Bitcoin Cashout

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Zinger Key Points

• FBI warns of looming North Korean Bitcoin cashout.
• What you need to know about North Korean Bitcoin hackers,

The Federal Bureau of Investigation (FBI) has raised a red flag for cryptocurrency entities, revealing that North Korean hackers are poised to cash out Bitcoin BTC/USD valued at more than $40 million. 

This development comes in the wake of the FBI's identification of recent blockchain activities tied to the theft of vast sums of cryptocurrency.

The FBI's probe uncovered that actors affiliated with the Democratic People's Republic of Korea (DPRK), operating under the pseudonyms TraderTraitor, Lazarus Group, and APT38, have shifted approximately 1,580 Bitcoin from several cryptocurrency thefts.

These ill-gotten funds are presently stored in specific Bitcoin addresses, which the FBI has made public.

These North Korean hackers, known as TraderTraitor, have been linked to several significant international cryptocurrency thefts, including:

Previously, the FBI had disseminated information about North Korean attacks on platforms like Harmony’s Horizon Bridge and Sky Mavis’ Ronin Bridge and had issued a specific Cybersecurity Advisory concerning TraderTraitor.

Also Read: Bitcoin's Price Action Mirrors 1930 Stock Market Crash: A Sign Of Things To Come?

The FBI is urging businesses in the cryptocurrency sector to meticulously inspect the blockchain data associated with the listed addresses and to remain on high alert for transactions either directly involving or stemming from these addresses.

The FBI's overarching goal is to thwart the DPRK's illicit endeavors, which encompass cybercrime and virtual currency theft, both of which funnel revenue to the regime.

The agency is actively seeking information from the public and directs those with pertinent details to contact their local FBI field office or the FBI’s Internet Crime Complaint Center at ic3.gov.

Read Next: Komainu Secures Lucrative Dubai License To Offer Custody Services To Crypto

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