The FBI has recently drawn attention to a significant sum of Bitcoin, amounting to approximately $40 million, that is believed to be linked to North Korean cyber activities. Several of the identified bitcoin addresses are thought to be connected to the DPRK-affiliated group known as TraderTraitor, Lazarus Group and APT38, and are reported to hold 1,580 BTC, a sum culled from various cyber heists. The FBI believes these groups will soon “cash out” their holdings, which could lead to notable slippage in the price of Bitcoin.Historical data sheds light on the group’s alleged role in multiple cryptocurrency thefts over the past year, including high-profile digital breaches at entities like Alphapo, CoinsPaid, and Atomic Wallet. In response, U.S. intelligence agencies and regulatory bodies are strengthening their defenses. The FBI has called for blockchain companies to keep an eye out on any related transaction with the above addresses and recommends proactive steps to stave off transactions connected to them. The Treasury Department’s Office of Foreign Assets Control has also sanctioned cryptocurrency mixer Blender in May 2022, after it was revealed that North Korean operatives had employed its services to launder sizable amounts.Prominent figures like Arthur Cheong, founder of DeFiance Capital, have stressed the need for the industry to remain vigilant, given the sophisticated tactics employed by North Korean cyber units. Cheong tweeted back in April 2022 that North Korea’s BlueNoroff is “running an organized campaign to target all the prominent organizations in the crypto space.”

Information	Details
Geography	Asia
Countries	🇺🇸
Sentiment	neutral
Relevance Score	9
People	Arthur Cheong, FBI, Treasury Department, Axie Infinity, BlueNoroff
Companies	Alphapo, CoinsPaid, Atomic Wallet, Office of Foreign Assets Control, Blender
Currencies	Bitcoin, Ethereum, USD, DPRK, Ronin Network
Securities	None