A recent cyberattack on crypto exchange Bybit has sent shockwaves through the cryptocurrency world. Hackers successfully drained an estimated $1.5 billion from a “cold” wallet, marking the largest heist ever recorded. Experts believe this breach is a sign of a new and potentially devastating phase in giant digital-asset thefts.
The sheer scale of the exploit, combined with its sophistication, has left cybersecurity researchers scrambling to understand the scope of the attack. The US Federal Bureau of Investigation (FBI) attributes the operation to North Korea’s Lazarus Group. This group is known for its advanced hacking capabilities and previous high-profile cyberattacks.
As exchanges struggle to come to terms with the implications of this breach, experts are urging them to significantly boost their security spending. With the crypto world continuing to grow rapidly, the need for robust cybersecurity measures has never been more pressing.
Source: https://www.bloomberg.com/news/articles/2025-02-28/lazarus-1-5-billion-hack-on-bybit-shakes-up-the-crypto-world-eth