In a historic hacking incident, North Korean hackers pilfered $1.4 billion in Ethereum from Bybit through a sophisticated attack on one of their wallets. Following the theft, the hackers transitioned the stolen assets into Bitcoin, moving them across numerous wallets to obfuscate their origin. Experts from various blockchain monitoring firms, including Chainalysis and TRM Labs, are tracking around 90% of the funds, with only around 10% lost due to transaction fees. These actions demonstrate a high level of sophistication in the hackers' operational strategies.
"During this first phase between February 24 and March 2, the North Korean hackers took steps to obscure the origins of the stolen cryptocurrency."
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