FBI Warns of North Korean Hackers’ Intent to ‘Cash Out’ $40M in Bitcoin

On August 22, 2023, the FBI issued an alert, cautioning astir North Korean hackers perchance trying to currency retired bitcoin valued astatine implicit $40 million.

U.S. Intelligence Flags Potential $40M Bitcoin Liquidation by North Korean Hackers

The FBI is urging some nationalist and backstage sectors to beryllium vigilant regarding 1,580 bitcoins (BTC) acquired by North Korean hacking groups, namely Lazarus Group and APT38. As of August 23, 2023, this cache’s worth sits somewhat supra $41 million, based connected existent BTC speech rates. To assistance successful this surveillance, the FBI disclosed six circumstantial bitcoin (BTC) addresses linked to these funds:

• 3LU8wRu4ZnXP4UM8Yo6kkTiGHM9BubgyiG
• 39idqitN9tYNmq3wYanwg3MitFB5TZCjWu
• 3AAUBbKJorvNhEUFhKnep9YTwmZECxE4Nk
• 3PjNaSeP8GzLjGeu51JR19Q2Lu8W2Te9oc
• 3NbdrezMzAVVfXv5MTQJn4hWqKhYCTCJoB
• 34VXKa5upLWVYMXmgid6bFM4BaQXHxSUoL

Detailing their concerns, the FBI pointed retired that the hacking factions from the Democratic People’s Republic of Korea (DPRK) were down aggregate crypto information breaches this year.

The bureau specifically noted, “The DPRK Trader-Traitor-affiliated actors were liable for respective high-profile planetary cryptocurrency heists to see the $60 cardinal theft of virtual currency from Alphapo connected June 22, 2023; the $37 cardinal theft of virtual currency from Coinspaid connected June 22, 2023; and the $100 cardinal theft of virtual currency from Atomic Wallet connected June 2, 2023.”

Additionally, the FBI mentioned:

The FBI antecedently provided accusation connected their attacks against Harmony’s Horizon span and Sky Mavis’ Ronin Bridge, and provided a Cybersecurity Advisory connected Trader-Traitor.

This caller FBI advisory echoes the United Nations’ (UN) findings, which revealed an uptick successful crypto-targeted activities by North Korean hackers successful 2023. The cyber onslaught isn’t U.S.-centric either. Reports bespeak that betwixt 2017 and 2022, DPRK hackers pilfered $721 cardinal successful cryptocurrency from Japanese entities.

Concerning the latest DPRK bitcoin intel, the FBI emphasizes that backstage assemblage organizations should meticulously scrutinize the blockchain information connected to these addresses, fortifying their defenses against transactions that either straight impact oregon originate from these addresses.

What bash you deliberation astir the FBI’s caller warning? Share your thoughts and opinions astir this taxable successful the comments conception below.