FBI Links North Korean Hackers to Record $1.5 Billion Bybit Crypto Theft

The Lazarus Group is accused of exploiting Bybit’s Ethereum wallet, prompting global efforts to trace and block stolen funds.

The FBI has identified North Korea’s Lazarus Group as the perpetrators of a $1.5 billion Ethereum theft from Dubai-based crypto exchange Bybit.
Hackers exploited malicious code in Bybit’s offline Ethereum wallet on February 21, gaining control and transferring assets to unidentified addresses.
The stolen funds are being rapidly laundered through thousands of blockchain wallets, with portions converted to Bitcoin and other cryptocurrencies.
Bybit has launched a bounty program, offering up to 10% of recovered funds to those who can track and freeze the stolen assets.
The incident has raised concerns about the security of cryptocurrency platforms, with experts warning of vulnerabilities in cold wallet systems.