North Korea Intensifies Cryptocurrency Attacks: $1.5 Billion Stolen From Bybit Exchange

The Lazarus Group, a known North Korean cybercriminal group, has been linked to a major hacking attack on the cryptocurrency exchange Bybit. The estimated theft amounts to over $1.5 billion in Ethereum tokens. Investigations point to the use of decentralized services like Safe{Wallet} for transferring stolen funds, making tracing and recovery extremely challenging. 🧠 🤯. This latest attack highlights North Korea’s sophisticated approach, dubbed ‘flood the zone,’ aimed at overwhelming compliance efforts and making it difficult to track their activities.