đš North Korean Hackers Steal $1.5 Billion in ETH â Largest Crypto Heist Ever! đš
The Lazarus Group, a state-backed North Korean hacking syndicate, has pulled off another massive cyberattackâthis time targeting Bybit, a Dubai-based crypto exchange. The hackers successfully stole $1.5 billion in Ethereum (ETH) by exploiting a vulnerability in the exchange's hot wallet system. đ„đ°
How the Hack Happened
đŽ The attackers manipulated transaction validation protocols, rerouting ETH transfers to their own wallets.
đŽ Nearly 417,348 $ETH was stolen and quickly converted into Bitcoin ($BTC ) to evade tracking.
đŽ Funds were dispersed across thousands of wallets using mixing services like Tornado Cash.
Where Did the Money Go?
đ”ïžââïž Intelligence reports suggest that a large portion of the stolen funds is being funneled into North Koreaâs weapons program and other illicit activities.
Bybit's Response
đĄ Bybit has confirmed that 77% of the stolen assets are still traceable, with 3% frozen across various exchanges. They are working with international law enforcement to recover the funds.
Global Implications
đ This attack underscores the increasing threats from state-sponsored hacking groups targeting crypto platforms. Regulatory bodies worldwide are urging exchanges to strengthen security protocols.
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