5 months ago
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The BBC is reporting that hackers thought to be working for the North Korean regime have successfully converted at least US$300 million of their record-breaking US$1.5 billion crypto heist to unrecoverable funds.
The criminals, known as Lazarus Group, swiped the huge haul of digital tokens in a hack on crypto exchange ByBit two weeks ago.
Since then, it’s been a cat-and-mouse game to track and block the hackers from successfully converting the crypto into usable cash.
Experts say the infamous hacking team is working nearly 24 hours a day – potentially funnelling the money into the regime’s military development.
Co-founder of crypto investigators Elliptic, Dr Tom Robinson says every minute matters for the hackers who are trying to confuse the money trail and they are extremely sophisticated in what they’re doing.
Dr Robinson says out of all the criminal actors involved in crypto currency, North Korea is the best at laundering crypto.
English (US) ·