The cryptocurrency community is in shock over the largest theft in history: $1.46 billion in Ethereum has been stolen from the Bybit exchange. Well-known on-chain detective ZachXBT conducted an investigation and determined that the attack was carried out by the North Korean hacker group Lazarus. These findings were confirmed by the analytics platform Arkham Intelligence.
Bybit CEO Ben Zhou confirmed the breach and assured that, despite the loss, the exchange remains solvent and that all customer funds are fully covered. He also noted that withdrawals for users continue as usual.
This incident highlights the urgent need for stronger security measures in the cryptocurrency industry and reinforces the importance of users taking precautions to protect their digital assets.
