North Korean hackers cash hundreds of crores from $ 1.5bn bybit hack

Hackers thought that at least $ $ 300m (£ 232m) of their record-breaking $ 1.5BN Crypto Heest to work for North Korean rule.

Criminals, known as the Lazarus Group, swipe the huge slope of digital tokens in hack on the Crypto Exchange Bibit. Two weeks ago,

Since then, it is a cat-end-mouse game that prevents crypto from converting Crypto into usable cash to track and block hackers.

Experts say that the notorious hacking team is working for about 24 hours a day – potentially fanning of money in the military development of governance.

Crypto’s investigators co-founder Dr. Tom Robinson says, “It matters every minute to hackers who are trying to confuse the money trail and they are extremely sophisticated in what they are doing.”

Among all the criminal actors involved in Crypto Mudra, North Korea is best in Laundering Crypto, Dr. Robinson says.

“I think they have an entire room of people doing so using automated equipment and years of experience. We can also see from their activity that they break only a few hours each day, possibly working in shifts to convert crypto into cash.”

Iliptic analysis is tall with bybit, which states that 20% of the money is now “dark”, which means it is never likely to be recovered.

The United States and the Allies accused the North Korean people of hacking dozens of hacks in recent years to fund the military and nuclear development of governance.

On 21 February, criminals had hacked one of the suppliers of Bibit to secretly change the digital wallet address that 401,000 Etharium crypto coins were being sent.

Bybit thought that it was transferring funds to its digital wallet, but instead sent all the hackers.

Bybit CEO Ben Jhou assured the customers that no money was taken.

The firm has since re -filled the stolen coins with loans from investors, but in Zhou’s words “fight on Lazarus”.

Baibit’s Lazarus Bounty Program is encouraging public members to detect stolen funds and to be frozen where possible.

All crypto transactions are displayed on a public blockchain, so it is possible to track the money as it is moved around by the Lazarus group.

If hackers try to use a mainstream crypto service to try to turn coins into a normal funds such as dollars, the crypto coins may be frozen by the company if they feel that they are associated with the crime.

So far 20 people have shared more than $ 4M prizes to alert crypto firms to successfully identify $ 40m of stolen money and block transfer.

But experts have been reduced to the possibilities of recovering the rest of the money, hacking and robbing money to North Korean expertise.

Dr. of Czech Point of Cyber ​​Security Company. “North Korea is a very closed system and closed economy, so they created a successful industry for hacking and laundering and they do not care about the negative impression of cyber crime.”

Another problem is that not all crypto companies are ready to help like others.

The Crypto Exchange Exchange is being accused by Bibit and other people are not stopping cash.

More than $ 90m has been successfully funnel through this exchange.

But the elusive owner of Exchen on email – Johann Roberts – disputed.

He believes that he did not stop the money initially, as his company is in a long -running dispute with Baibit, and he says that his team was not sure that the coins were definitely from hack.

He says that he is now cooperating, but argues that the mainstream companies identifying Crypto customers are leaving the personal and anonymous benefits of Crypto currency.

North Korea has never accepted behind the Lazarus Group, but is considered the only country in the world using its hacking powers for financial gains.

The first Lazarus group hackers targeted banks, but are special in attacking cryptocurrency companies in the last five years.

The industry is preserved less well with less mechanisms so that they can get funds.

Recent hacks associated with North Korea include:

• 2019 hack on upbit for $ 41m
• Crypto’s $ 275M theft (most funds were recovered) from Exchange Kookin
• 2022 Ronin Bridge Attack, in which hackers saw in crypto with $ 600 meters
• About $ 100 meter in Crypto was stolen in an attack on the nuclear wallet in 2023

In 2020, the US accused the North Korean people of being part of the Lazarus group in their cyber most wanted list. But until they leave their country, the possibility of arresting individuals is very thin.