North Korea’s Lazarus Group Strikes Again: Bybit’s $1.5B Nightmare

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In a twist that would make even the most seasoned conspiracy theorist raise an eyebrow, the Bybit hack earlier today was masterminded by none other than North Korea’s Lazarus Group. As history has shown, recovering funds from these digital bandits is about as likely as finding a unicorn in Pyongyang. 🦄

Arkham Intelligence, ever the bounty hunter, dangled a carrot for solid evidence, and who else but ZachXBT came through? Turns out, Lazarus reused the same wallets from last month’s Phemex hack. Talk about recycling! ♻️

Bybit: The Lazarus Group’s New Playground

Bybit, the crypto exchange that just can’t catch a break, suffered a jaw-dropping $1.5 billion security breach today. Arkham Intelligence, playing the role of digital Sherlock, offered a bounty, and ZachXBT delivered the smoking gun linking the attack to North Korea’s infamous Lazarus Group. 🕵️‍♂️

“At 19:09 UTC today, ZachXBT submitted definitive proof that this attack on Bybit was performed by the Lazarus Group. His submission included a detailed analysis of test transactions and connected wallets used ahead of the exploit, as well as multiple forensics graphs and timing analyses. The submission has been shared with the Bybit team,” Arkham claimed.

ZachXBT, the crypto world’s answer to Hercule Poirot, has a knack for tracking the Lazarus Group. This North Korean hacker collective, responsible for nearly $1 billion in stolen funds last year, seems to have a thing for crypto exchanges. 🎯

Specifically, he claimed that wallets from the Bybit hack were connected to the Phemex breach in January. At the time, this earlier breach wasn’t clearly recognizable as Lazarus’ handiwork, but now the paper trail is as clear as a Pyongyang propaganda poster. 🗞️

Immediately after the hack, some users, in a fit of wild speculation, accused Pi Network’s supporters of the crime because Bybit’s CEO criticized the project. Because, of course, that makes perfect sense. 🙄

Bybit users have at least gotten some clarity, but recovering stolen funds from the hack is about as likely as convincing Kim Jong-un to take up knitting. ZachXBT received Arkham tokens worth around $30,000 for this discovery. Not bad for a day’s work, eh? 💰

However, Bybit hack victims at least get some peace of mind, which will hopefully prevent further false accusations from spreading. The exchange’s CEO claims that all users will be reimbursed through existing reserves, but a solid plan hasn’t been released yet. For now, the wounds are still very fresh. 🩹

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2025-02-22 02:11