FBI Flags Six Wallets Holding $40m in Stolen Cryptocurrency

FBI Flags Six Wallets Holding $40m in Stolen Cryptocurrency

Time Stamp: August 23, 2023 8:23 AM
Source Node: 2840440

The FBI flagged several wallets used by hackers and asked for caution from crypto firms.

The Federal Bureau of Investigation (FBI) warned cryptocurrency companies about six Bitcoin wallets linked to North Korean hackers.

The wallets collectively have 1,580 Bitcoin worth more than $40m, acquired through several recent heists.

What are Stablecoins, Altcoins & Wrapped Coins Explained!

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

In the press release, the agency published the list of the flagged wallets associated with North Korea’s hacking group TraderTraitor (also known as APT38 and Lazarus Group).

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

FBI urged crypto companies to examine the data attached to the wallets and remain on the lookout for transactions related to the addresses since it’s highly likely that the hackers would try to cash out the Bitcoin.

This is not the first time North Korean hackers have caused uproar in the industry. In five years, these hacker groups have stolen approximately $2bn from crypto companies. In 2023 alone, they are responsible for 20% of all global crypto thefts, at the $200m mark.

According to the FBI statement, the hackers are associated with:

<…>the $60 million theft of virtual currency from Alphapo on June 22, 2023; the $37 million theft of virtual currency from CoinsPaid on June 22, 2023; and the $100 million theft of virtual currency from Atomic Wallet on June 2, 2023.

CNN previously reported that North Korean government-backed hackers seek to exploit the vulnerabilities of cryptocurrency companies, and the stolen funds allegedly go back to support the regime.

Despite the high volume of hacking attempts, the very nature of blockchain technology makes it difficult to launder money or move assets around. The public ledger ensures the funds can be tracked and, if need be, frozen, as was the case with $160,000 of funds stolen from the Merlin DEX.

Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Time Stamp:

More from Bit Degree