North Korean Lazarus Group Linked to Record $1.4 Billion Crypto Heist at Bybit

The historic theft, targeting Bybit's Ethereum cold wallet, has been attributed to sophisticated tactics exploiting Safe Wallet infrastructure.

The FBI confirmed North Korea's Lazarus Group orchestrated the largest crypto theft in history, stealing $1.4 billion from Bybit on February 21, 2025.
Hackers exploited a Safe Wallet developer's compromised machine to inject malicious JavaScript targeting Bybit's Ethereum cold wallet during a routine transfer.
Bybit has launched a $140 million bounty program to trace and recover stolen assets, with $42 million frozen so far and ongoing laundering efforts complicating recovery.
The Lazarus Group funneled stolen funds through decentralized exchanges, with approximately 30% laundered within five days, raising concerns about crypto security.
Bybit has restored its reserves to a 1:1 ratio, ensuring user funds remain secure, and called for collective industry action to combat cyber threats.