The FBI has issued an urgent warning to the Crypto Community, urging vigilance after North Korean hackers stole $1.5 billion from the Bybit exchange. The attack, attributed to the Lazarus Group (also known as TraderTraitor), has seen a rapid laundering of funds across multiple blockchains.

Rapid Laundering Raises Alarms

Blockchain intelligence firm TRM Labs reported that approximately $400 million had already been laundered. The FBI noted that the hackers had converted some stolen assets to Bitcoin and dispersed them across thousands of addresses. Authorities fear the funds will soon be converted into fiat currency, making recovery nearly impossible.

Attack Linked to Safe Wallet Exploit

According to wallet provider Safe, the breach originated from a compromised Safe Wallet developer machine, which affected an account operated by Bybit. In response, Safe has implemented additional security measures to prevent similar attacks in the future.

Bybit Offers $140 Million in Bounties

To combat the theft, Bybit is offering up to $140 million in rewards for anyone who can help freeze stolen funds. So far, 12 bounty hunters have received a total of $4.2 million for their efforts. CEO Ben Zhou has released an initial report on the attack, compiled by cybersecurity firms Syngia and Verichains.

The FBI has advised crypto exchanges, DeFi platforms, and RPC node operators to block transactions linked to the hacker-controlled wallet addresses. With the stolen funds moving swiftly, industry cooperation will be crucial in preventing further laundering.