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Re:

Who Hacked Bybit? FBI Attributes $1.5 Billion Crypto Theft to North Korea

The FBI says North Korea was responsible for approximately $1.5 billion in virtual assets stolen from Bybit in February 2025, calling the activity TraderTraitor.
From TheFinanceBase Team2 min to read
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The FBI says North Korea was responsible for stealing approximately $1.5 billion in virtual assets from cryptocurrency exchange Bybit on or about February 21, 2025. The agency calls the activity “TraderTraitor.” That is an FBI attribution in a public service announcement, not a court finding or an independent technical reconstruction.

Who does the FBI say was behind the Bybit hack?

In a February 26, 2025 public service announcement, the FBI attributed the Bybit theft to the Democratic People’s Republic of Korea (North Korea). The notice identifies the activity as “TraderTraitor,” the FBI’s label for this specific North Korean malicious cyber activity. It does not establish that other names used for cyber groups refer to the same actors.

The FBI’s announcement states: “The Federal Bureau of Investigation (FBI) is releasing this PSA to advise the Democratic People’s Republic of Korea (North Korea) was responsible for the theft of approximately $1.5 billion USD (United States Dollars) in virtual assets from cryptocurrency exchange, Bybit, on or about February 21, 2025.” Read the FBI’s public service announcement, Alert Number I-022625-PSA.

How much crypto was stolen from Bybit?

The FBI described the amount stolen as approximately $1.5 billion USD in virtual assets. This is the agency’s approximate valuation of the assets taken on or about February 21, 2025, as stated in its February 26 announcement; it is not a current valuation or a final accounting of funds recovered.

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What does the FBI say happened to the stolen assets?

The FBI said some of the assets had been converted to Bitcoin and other virtual assets, then dispersed across thousands of addresses on multiple blockchains. It expected further laundering and eventual conversion to fiat currency. The notice describes these reported movements but does not provide a current recovery total or remaining balance.

The PSA also lists Ethereum addresses that the FBI said held or had held assets from the theft and were operated by, or closely connected to, TraderTraitor actors. The agency urged private-sector organizations to block transactions with or derived from addresses associated with laundering the stolen assets. Its request covered:

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What the FBI announcement does—and does not—establish

The announcement is an official FBI attribution and a warning to organizations that may encounter transactions connected to the listed addresses. It is not a court finding. It does not explain the technical method used to compromise Bybit, independently reconstruct the intrusion, or give a final accounting of assets recovered.

The FBI Internet Crime Complaint Center copy of the same February 26, 2025 PSA carries the same notice; it is not a separate investigative account.

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