A major cryptocurrency exchange, Bybit, suffered a hack orchestrated by the Lazarus group, resulting in a theft of approximately $1.4 billion. The North Korean hacking collective employed sophisticated techniques, including crypto mixers and bridges, to evade detection. Despite the substantial sum stolen, market resilience was observed as Ethereum and Bitcoin experienced minimal long-term price fluctuations after the event. 68.6% of the stolen funds remain traceable on the blockchain, while a significant portion, about 27.6%, has gone untraceable due to crypto laundering methods. Bybit’s CEO, Ben Zhou, launched a bounty program to incentivize community members to track and hold perpetrators accountable for the missing assets. This incident raises concerns regarding ongoing challenges in crypto security and regulation, prompting calls for stricter controls on exchanges, increased scrutiny of cross-chain platforms, and tighter regulations around crypto mixers. Future focus will be placed on implementing enhanced security policies and potentially introducing regulatory actions against tools used to launder funds.