North Korean hackers cash out hundreds of millions from $1.5bn ByBit hack

Hackers from the infamous Lazarus Group are in a cat-and-mouse game to launder their stolen funds from the ByBit heist.

British Broadcasting CorporationWatch LiveHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcastsRadioAudio FAQsVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveWeatherNewslettersNorth Korean hackers cash out hundreds of millions from $1.5bn ByBit hack12 hours agoShareSaveJoe TidyCyber correspondent, BBC World ServiceShareSaveGetty ImagesHackers thought to be working for the North Korean regime have successfully converted at least $300m (£232m) of their record-breaking $1.5bn crypto heist to unrecoverable funds.

The criminals, known as Lazarus Group, swiped the huge haul of digital tokens in a hack on crypto exchange ByBit two weeks ago.

Since then, it's been a cat-and-mouse game to track and block the hackers from successfully converting the crypto into usable cash.

Experts say the infamous hacking team is working nearly 24 hours a day - potentially funnelling the money into the regime's military development.

"Every minute matters for the hackers who are trying to confuse the money trail and they are extremely sophisticated in what they're doing," says Dr Tom Robinson, co-founder of crypto investigators Elliptic.

https://www.bbc.com/news/articles/c2kgndwwd7lo

---