Browsing: Bybit

A major cryptocurrency exchange, Bybit, suffered a massive hack, leading to a market downturn despite positive news for the industry earlier in the day.

A look at the $1.5 billion cryptocurrency theft from Bybit, attributed to North Korean hackers.

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North Korean hackers from the Lazarus Group have stolen a record $1.5 billion from the Bybit crypto exchange, circumventing a security system considered one of the safest in the industry. The attack has raised alarms about the vulnerability of even “cold” storage wallets and the potential use of stolen funds to support the Kim Jong-Un regime’s nuclear weapons program.

Cryptocurrency exchange Bybit recently disclosed a $1.5 billion crypto heist, making it one of the largest digital asset thefts on record and highlighting ongoing security challenges in the industry.

The Federal Bureau of Investigation (FBI) has identified North Korea as the perpetrator of a cyberattack that resulted in the theft of approximately $1.5 billion in virtual assets from the cryptocurrency exchange ByBit.

Hackers targeted Bybit’s cold wallet, stealing primarily Ethereum tokens in what is being called the largest crypto heist to date.

The FBI has linked the North Korean Lazarus Group to the theft of $1.5 billion from crypto exchange Bybit, with the funds being laundered to evade tracing efforts.

Cryptocurrencies experienced significant losses on Monday, driven by macroeconomic concerns, tech stock declines, and a recent exchange hack.

Bybit, a major cryptocurrency exchange, experienced a massive security breach, resulting in the theft of $1.4 billion in Ethereum, marking the largest crypto hack in history. The SEC also announced a new unit focused on cyber and emerging technology threats.