North Korea Linked to Record $1.5 Billion Bybit Crypto Heist, FBI Confirms

The Lazarus Group, a North Korean state-sponsored hacking collective, executed the largest cryptocurrency theft in history, targeting Bybit's Ethereum wallets.

The FBI has identified North Korea's Lazarus Group as the perpetrators behind the $1.5 billion theft from Dubai-based cryptocurrency exchange Bybit on February 21, 2025.
Hackers exploited a routine transfer from Bybit's secure 'cold wallet' to its 'hot wallet,' using malware-laced code injected via SafeWallet's infrastructure.
Bybit has launched a $140 million bounty program to track and freeze the stolen assets, with approximately $42 million already recovered or frozen.
The stolen Ethereum is being rapidly laundered through decentralized exchanges and converted to other cryptocurrencies, complicating recovery efforts.
North Korea reportedly uses proceeds from such cybercrimes to fund weapons programs, with Lazarus-linked hacks accounting for billions in stolen assets since 2017.