Particle.news
Download on the App Store
27 ARTICLES
·
last mo.

North Korean Hackers Steal $1.5 Billion in Largest Crypto Heist Ever

The Lazarus Group exploited a vulnerability in Bybit's wallet system, with stolen funds reportedly linked to North Korea's weapons programs.

A price chart on the Bybit website for the cryptocurrency Ethereum is seen on a computer screen in New York on Friday evening, Feb. 21, 2025. (AP Photo/Patrick Sison)
Image
FBI symbol on side of a building.
A hooded man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration/File Photo

Overview

  • The FBI confirmed that North Korea's Lazarus Group orchestrated the $1.5 billion theft from Dubai-based crypto exchange Bybit on February 21, 2025.
  • Hackers exploited a compromised Safe{Wallet} developer machine, injecting malicious code into Bybit's wallet system during a routine transfer of Ethereum.
  • Bybit has launched a $140 million bounty program to incentivize the recovery of stolen funds and has already frozen $42.3 million in assets with the help of blockchain investigators.
  • North Korea has increasingly used cybercrime to fund its missile and nuclear programs, with Lazarus-linked thefts exceeding $6 billion since 2017.
  • The stolen funds are being rapidly laundered through decentralized exchanges, making recovery efforts challenging despite real-time blockchain tracking.