- Bybit has been hit by a security violation and lost $ 1.4 billion in ETH.
- ZachxBT has linked the attack to the North Korean Lazarus group.
Bybit, one of the leading Cryptocurrency exchanges, had a disastrous hack last Friday, during which about 401,000 ETH worth $ 1.4 billion stole. This has become the largest recorded heist in history.
Ben Zhou, Bybit founder and CEO confirmed that crime happened due to an advanced attack that used a masked user interface and URL. The attacker cheated wallet signals into approving a malicious transaction and gaining control over the exchange Ethics Cold wallet.
Bybit’s security measures and insurance
Bybit immediately identified the unauthorized withdrawal from its ETH -call wallet. Apart from the informed Zhou customers that other cold wallets are safe and that withdrawals services are intact.
The abandoned:
“12 hours from the worst hack in history. All withdrawals have been processed. Our withdrawal system is now completely back at a normal rate, you can take out all the amounts and experience no delays. “
The Dubai-based exchange, which reportedly had total assets worth $ 16 billion, is currently investigating the attack. Zhou promised a full incident report and improved security measures in the coming days.
Investigations and accusations of Lazarus Group
Crypto Investigator ZachxBT has connected the Bybit chop to Lazarus groupA cyber criminal organization that is said to be bound to North Korea. Blockchain Intelligence platform Arkham revealed that ZachxBT provided definitive evidence that linked the attack to the Lazarus Group.
Arkham explained that ZachxBt research Included a thorough examination of test transactions, related wallets used before exploitation, forensic charts and exact time analyzes.
In addition, the platform has also provided a generosity out of 50,000 Arkm for further information that can determine the organization or individual behind the attack.
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