Thu Feb 27 07:03:50 UTC 2025: ## FBI Accuses North Korea of $1.5 Billion Crypto Heist, Largest in History
**Washington, D.C. –** The Federal Bureau of Investigation (FBI) has formally accused North Korea of orchestrating the theft of $1.5 billion in cryptocurrency, marking the largest cryptocurrency heist in history. The announcement, made on February 27th, 2025, identifies the Lazarus Group, also known as TraderTraitor, as the perpetrators. This group is allegedly responsible for stealing 400,000 Ethereum from the Dubai-based cryptocurrency exchange, Bybit, last week.
The FBI statement detailed how the attackers exploited security protocols during a transaction to transfer the assets to an unidentified address. The stolen funds are reportedly being rapidly converted into Bitcoin and other cryptocurrencies, dispersed across numerous addresses and blockchains, with the expectation that they will be further laundered and eventually converted to fiat currency.
The Lazarus Group is no stranger to high-profile cyberattacks. A decade ago, they were accused of hacking Sony Pictures in retaliation for the film “The Interview.” They were also implicated in the 2022 theft of $620 million from the Ronin Network, previously considered the largest crypto heist. In December 2024, the U.S. and Japan jointly blamed the group for stealing over $300 million from the Japanese exchange DMM Bitcoin.
North Korea’s sophisticated cyber-warfare program, estimated to include a 6,000-strong unit known as Bureau 121, has long been a concern. A United Nations panel reported that the country has stolen over $3 billion in cryptocurrency since 2017. Proceeds from these cyberattacks are believed to fund North Korea’s nuclear weapons program. The FBI’s accusation underscores the growing threat posed by state-sponsored cybercrime and its implications for global financial security.
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