DPRK hackers steal $1.5 billion from Dubai crypto exchange during asset transfer
Kyiv • UNN
Crypto exchange Bybit has lost $1.5 billion due to a hacker attack while moving Ethereum between wallets. According to Arkham Intelligence, the North Korean group Lazarus is behind the hack.
Hacking announcements led to a sharp increase in the number of withdrawal requests.
Transmitted by UNN with reference to Associated Press.
Bybit, a major Dubai-based cryptocurrency exchange, recently announced that it had been hacked - the company lost $1.5 billion. The fraud occurred during a routine move of Ethereum from the “cold wallet” (offline storage) to the “hot wallet” (used for daily trading). The hacker took advantage of a security flaw and transferred the assets to an unknown address.
Hackers from the DPRK are under suspicion
Crypto research group Arkham Intelligence attributes the theft to a North Korean hacking group known as the Lazarus Group. The Lazarus Group is a notorious cybercrime group with ties to the North Korean government that has been conducting cybercrime since 2009.
Among its most notable attacks was the 2014 hack of Sony Pictures in retaliation for the release of the movie The Interview, which parodied North Korean leader Kim Jong-un.
Due to the unprecedented attack, the number of withdrawal requests has increased significantly, but Bybit is trying to calm this wave of distrust
Bybit CEO Ben Zhou issued a statement to reassure users that their funds remain safe and that the company is solvent.
We can cover losses
The company acknowledged that the news of the hack led to a sharp increase in the number of withdrawal requests, and that there may be delays in processing them.
Bybit has reached out to the global cybersecurity community, offering a reward of 10% of the amount recovered, which could amount to $140 million if fully recovered.
Zhou also said that the platform cooperates with international authorities, including the Singapore Police Department and Interpol.
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