ByBit CEO Ben Zhou dey hope to reclaim some of di stolen funds through a bounty project
Hackers wey dey believed say dey work for di North Korean regime don successfully shift at least $300m of dia record-breaking $1.5bn crypto heist to funds wey pipo no fit track.
Di criminals wey dem dey call Lazarus Group, tiff di ogbonge haul of digital tokens for hack on crypto exchange wey dem dey call ByBit two weeks ago.
Since den, na kiti kata waka to block di hackers bifor dem go change di crypto money to real money wey dem go fit spend.
Sabi pipo say dis hacking team dey work for almost 24 hours a day – and dey potentially send di money give di regime military development.
Dr Tom Robinson, wey be di co-founder of crypto investigators Elliptic tok say “evri minute dey important for dis hackers wey dey try to confuse di money trail and dem sabi how to do wetin dem dey do well-well”.
E say of all di criminals wey get dia hands inside crypto currency, na North Korea sabi how to do am well.
“I imagine dem get entire room of pipo wey dey do dis wit automated tools and years of experience. We fit also see from dia activity say dem only take a few hours break each day, possibly working in shifts to get di crypto turned into cash.”
Elliptic analysis agree wit ByBit own, wey tok say 20% of di money don go dark, dis mean say e no dey likely say dem go find am.
Di US and allies accuse di North Koreans say dem don run dozens of hacks in recent years to fit fund di regime military and nuclear development.
On 21 February, di criminals bin hack one of ByBit suppliers to secretly change di digital wallet address wia dem bin send 401,000 Ethereum crypto coins go.
ByBit bin tink say dem bin dey transfer di money go dia own digital wallet but instead dem send am give di hackers.
Ben Zhou, wey be di CEO of ByBit assure customers say dem no take any of dia money.
Di company don borrow from investors to take replace di stolen coins but in di words of Zhou, dem dey “wage war on Lazarus”.
All crypto transactions dey displayed for public blockchain so e dey possible to track di money as Lazarus Group dey move am up and down.
ByBit Lazarus Bounty programme dey encourage di members of di public to trace di stolen finds and get dem frozen wia dem fit.
If di hackers try use mainstream crypto service to turn di coins to normal money like dollars, di company go fit freeze di coins if dem tink say dem dey linked to crime.
So far, 20 pipo don share ova $4m in rewards afta dem find $40m of di stolen money and call di crypto companies make dem block di transfer.
But sabi pipo no dey optimistic again say dem go fit recover di rest of di money becos of di North Korean knowledge for hacking and laundering of di money.
Dr Dorit Dor from cyber security company Check Point tok say, “North Korea na veri closed system and closed economy so dem don create successful industry of hacking and laundering and dem no care about di negative impression of cyber crime”.
Anoda wahala be say no be all crypto companies wan help.
Crypto exchange eXch bin dey accused by ByBit and odas say dem no dey stop di criminals from cashing out.
Dem don cash out ova $90m wit dis echange.
But di owner of eXch, Johann Roberts use email to deny am.
E gree say at first dem no stop di funds as im company get long running kasala wit ByBit and e say im team no sure weda di coins bin dey come from di hack.
E say e now dey co-operate but argue say di mainstream companies wey identify crypto customers dey betray di private anonymous benefits wey dey crypto currency.
North Korea neva gree say dem dey behind di Lazarus Group but belief be say dem be di only kontri for world wey dey use dia hacking powers take make money.
Bifor, di Lazarus Group bin dey target banks but in di last five years, dem don dey specialise in attacking cryptocurrency companies.
Di industry no dey as protected and e get fewer tins for ground wey go stop dem from laundering di money.
Recent hacks wey dey linked to North Korea include:
.Di 2019 hack on UpBit for $41m
.Di $275m stealing of crypto from exchange KuCoin (dem recover most of di money sha)
.Di 2022 Ronin Bridge attack wia hackers tiff $600m in crypto run
.Dem tiff about $100m for crypto for attack on Atomic Wallet for 2023
For 2020, di US bin add North Koreans wey dem accuse say dem be part of di Lazarus Group for dia Cyber Most Wanted list. But di chance say dem go catch dis pipo dey tiny except dem comot dia kontri.
