FBI urges crypto firms to block addresses and transactions of Bybit hackers

On February 21, the exchange was hacked for $1,46 billion

27.02.2025 - 15:00

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What’s new? The US Federal Bureau of Investigation has called on blockchain node operators, as well as crypto exchanges and DeFi protocols to block transactions from addresses used to launder the $1,46 billion stolen from the Bybit platform. An FBI investigation revealed that hackers from North Korea were behind the hack.

FBI report

What else is known? There are several hacker groups in North Korea, including Lazarus Group, APT38, BlueNoroff, and Stardust Chollima, that hack into crypto projects to fund the government’s weapons program. The bureau lumped all of these groups together under the common name TraderTraitor.

“TraderTraitor actors are proceeding rapidly and have converted some of the stolen assets to Bitcoin and other virtual assets dispersed across thousands of addresses on multiple blockchains.It is expected these assets will be further laundered and eventually converted to fiat currency,” the FBI said.

Bybit hackers have already laundered more than 135 000 Ethereum coins since the February 21 hack. Another 363 900 ETH worth $825 million at current prices have not yet additionally moved.

According to Chainalysis analysts, the hackers converted some of the stolen ETH into bitcoin, DAI stablecoins, and other tokens through decentralized exchanges (DEXs), cross-chain bridges, and an instant exchange service that does not require users to go through a KYC process.

The FBI provided 51 Ethereum addresses associated with TraderTraitor so industry players can block or refrain from interacting with them.