Chainalysis, a blockchain analytics platform, has unveiled its investigation into the recent $1.5 billion ETH heist from crypto exchange Bybit. The investigation reveals that North Korean hackers are suspected of being behind this attack. Bybit quickly closed the ETH deficit after the incident but faces continued scrutiny from industry players seeking to prevent future similar exploits. 🤝 Chainalysis’s detailed report explores the hack’s mechanics, the tactics used by the hackers, and the involvement of DPRK in the operation. 🔎 Notably, the firm discovered a connection between North Korean groups and Bybit’s hacking spree, highlighting a common strategy involving social engineering and complex fund laundering techniques. 🎭 Their investigation further revealed that stolen funds from Bybit have been found linked to previous hacks on the same blockchain addresses. 🤝 This latest insight underscores the persistent threat of North Korean-led cyberattacks in the cryptocurrency space. 📊 The report also reveals a significant increase in North Korea’s crypto heist activity, with $2.2 billion worth of funds stolen in 2024 alone. 💰 Chainalysis’s research further emphasizes that these hackers are exceeding the capabilities of crypto platforms and firms to thwart their attempts, prompting collaborations between exchanges and blockchain forensics experts to enhance security. 💡 Bybit has proactively implemented measures to mitigate future hacks, including publishing its POR publicly for increased transparency, collaborating with experts to trace stolen funds, and launching a recovery bounty program incentivizing individuals who recover the funds. 💰