North Korea is responsible for the theft of 1.46 billion dollars in cryptocurrency from crypto exchange Bybit, according to the FBI. Bybit confirmed the theft last weekend.

The FBI says that a North Korean group called TraderTraitor is behind the attack, Reuters reports. “Members of TraderTraitor have moved quickly and converted some of the stolen assets into bitcoins and other virtual assets, spread across thousands of addresses on multiple blockchains.” The money is expected to be laundered further and eventually converted into regular currency.

Bybit confirmed last weekend that a theft had taken place at the crypto exchange. The hackers managed to manipulate transactions by masking the signing interface. As a result, the correct address was displayed, but the underlying smart contract logic was modified. This gave the attackers unauthorized access to the cold wallet. Exactly how they managed to do this is still unclear.

A total of 401,347 ether was stolen, with a value of 1.46 billion dollars. Bybit CEO Ben Zhou announced last weekend that the exchange has taken out bridging loans with partners, which can cover 80 percent of the stolen cryptocurrency. According to him, all other wallets are safe.