The FBI has confirmed that North Korean cybercriminals poached some $1.5 billion from the Dubai-based exchange Bybit last week, seeking information about the largest-ever cryptocurrency heist.

In a public service announcement on Wednesday, the bureau linked the theft to malicious North Korean cyber activity that it tracks under the name “TraderTraitor.”

“TraderTraitor actors are proceeding rapidly and have converted some of the stolen assets to bitcoin and other virtual assets dispersed across thousands of addresses on multiple blockchains,” the FBI stressed.

The cybercriminals are now expected to further launder the stolen assets and eventually convert them to fiat currency, the