Bybit Confirms Record-Breaking $1.46 Billion Crypto Heist in Sophisticated Cold Wallet Attack

Summary: Bybit disclosed that a sophisticated cyber attack resulted in the theft of over .46 billion from its Ethereum cold wallet, marking the largest single cryptocurrency heist in history. The attack involved manipulation of the signing interface during a wallet transfer, allowing the assailants to gain control of the funds. Bybit has assured that other cold wallets are secure and has reported the incident to authorities, while it’s believed that the notorious Lazarus Group is behind the theft.

Affected: Bybit cryptocurrency exchange

Keypoints :

• Attack led to the theft of .46 billion from Bybit’s Ethereum cold wallet.
• The heist was executed by manipulating the wallet’s transaction process.
• Lazarus Group, a North Korean hacking organization, is suspected to be responsible.
• Bybit’s CEO confirmed that other cold wallets remain secure.
• In 2024, the estimated cryptocurrency stolen by North Korean hackers reached .34 billion.
• Rise in cryptocurrency heists attributed to lucrative gains and challenges in tracing malicious actors.