Lazarus Group Launders $300M From $1.5B Bybit Heist, FBI Warns of Nuclear Funding

North Korean hackers, identified as members of the Lazarus Group, have successfully laundered at least $300 million of the $1.5 billion in cryptocurrency stolen from the Dubai-based exchange Bybit on February 21. This heist is recognized as the largest cryptocurrency theft in history.

Blockchain analysis experts have confirmed that the hackers dispersed most of the stolen assets to new virtual wallets, making it challenging for law enforcement to trace and recover the funds. The FBI has attributed the operation to North Korean hackers, who are rapidly converting the stolen assets into Bitcoin and other digital currencies.

The Lazarus Group's expertise in cryptocurrency theft and laundering has heightened concerns about North Korea's capacity to fund its nuclear program and resist global economic sanctions. The group has been linked to 58 cyberattacks against cryptocurrency companies since 2017, amassing approximately $3 billion in stolen digital currencies.

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