North Korean hackers cash out hundreds of millions from $1.5bn ByBit hack www.bbc.com/news/arti…

Hackers 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.

Out of all the criminal actors involved in crypto currency, North Korea is the best at laundering crypto, Dr Robinson says.