North Korean Hackers Execute Largest Cryptocurrency Heist in History

Hackers linked to North Korea's Lazarus Group stole $1.5 billion in Ethereum from Dubai-based Bybit, leveraging sophisticated phishing and laundering techniques.

The hack targeted Bybit during a routine transfer of Ethereum, redirecting 401,000 units worth $1.5 billion to wallets controlled by the attackers.
Investigators, including Chainalysis and other blockchain analysts, attribute the attack to North Korea's Lazarus Group, known for high-profile cybercrimes.
The operation used tailored phishing emails to compromise employee accounts and bypass multi-layered security protocols protecting 'cold wallets.'
Stolen funds were rapidly laundered across numerous platforms and currencies, with over $160 million already untraceable, raising concerns among cybersecurity experts.
The stolen cryptocurrency is believed to fund North Korea's isolated regime, including its nuclear weapons program, as efforts to recover the funds continue.