Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Ben Zhou, Executive Director of Bybit, during the Token2049 conference in Singapore, on Thursday, September 14, 2023.
Joseph Nair | Bloomberg | Getty images
Bybit, an important cryptocurrency exchange, has been pirated by a sum of $ 1.5 billion in digital assets, in what is estimated to be the largest in the history of history.
The attack compromised bybit’s cold wallet, an off -line storage system designed for security. Stolen funds, mainly in etherThey quickly transferred through multiple wallets and settled through several platforms.
“Please, be sure that all other cold wallets are safe,” Zhou, CEO of Bybit, published in X. “All retreats are normal.”
Blockchain’s analysis firms, including Elliptics and Arkham’s intelligence, tracked stolen cryptography as it moved to several accounts and downloaded quickly. The trick far exceeds the previous robberies in the sector, According to Elliptico. That includes the $ 611 million stolen from Poly Network in 2021 and the $ 570 million binance drained in 2022.
Elliptic analysts then linked the attack on the Lázaro Group of North Korea, a piracy collective sponsored by the State that is not noticeable for diverting billions of dollars from the cryptocurrency industry. The group is known for exploiting security vulnerabilities to finance the North Korean regime, often using sophisticated washing methods to obscure the flow of funds.
“We have labeled the directions of the thief in our software, to help prevent these funds from being charged through any other exchange,” said Tom Robinson, chief scientist of the elliptical, in an email.
The violation immediately caused an avalanche of Bybit withdrawals, since users feared potential insolvency. Zhou said the exits had stabilized. To reassure customers, he announced that Bybit had secured a bridge loan of unleashed members to cover any unrecoverable loss and maintain operations.
The history of the Lázaro group of attacking cryptographic platforms dates back to 2017, when the group infiltrated four exchanges from South Korea and stole $ 200 million in Bitcoin. As agencies for the application of the law and cryptocurrency monitoring companies work to track stolen assets, industry experts warn that large -scale robberies remain a fundamental risk.
“The more difficult it is to benefit from crimes like this, the less they will take place,” Robinson de Elliptico wrote in a publication.
