North Korea’s Lazarus Group Identified as Culprit Behind $1.46B Bybit Hack

A major cybersecurity investigation has revealed that North Korea’s Lazarus Group was behind the $1.46 billion hack of crypto exchange Bybit, one of the biggest crypto heists in history. Blockchain investigator ZachXBT and on-chain analytics platform Arkham Intelligence confirmed the findings, identifying multiple transactions linked to the notorious hacker group.

How the Attack Happened

The breach, which took place earlier this month, targeted Bybit’s hot wallets, allowing the attackers to siphon massive amounts of Bitcoin (BTC), Ethereum (ETH), and stablecoins. The stolen funds were quickly moved through mixing services and multiple wallets in an attempt to cover the trail.

According to Arkham Intelligence, the hacked assets were traced to addresses associated with Lazarus Group, a well-known North Korean cybercriminal organization responsible for several high-profile hacks, including the Axie Infinity’s Ronin Bridge breach in 2022.

Bybit’s Response and Security Measures

Bybit has assured users that customer funds remain safe, and the exchange is working with law enforcement and blockchain security firms to recover the stolen funds. The platform has also announced an increase in security measures, including:

• Strengthening multi-signature authentication for withdrawals
• Enhancing real-time threat detection systems
• Collaborating with global regulators to track illicit transactions

Lazarus Group’s Growing Crypto Attacks

Lazarus Group has been linked to over $3 billion in crypto hacks since 2017, with stolen funds allegedly being used to finance North Korea’s weapons programs. Analysts warn that these attacks will likely continue as North Korea seeks to evade economic sanctions through cybercrime.

What’s Next?

Authorities, including Interpol and the FBI, are closely monitoring Lazarus Group’s activities. Bybit is offering a reward for information leading to the recovery of stolen funds, while blockchain investigators continue tracking the movements of the stolen assets.

📌 Source: CryptoNews