North Korea’s Lazarus group is behind Bybit’s hack of $ 1.4 billion Earlier on Friday, according to one Investigation of ZachxBT. Arkham Intelligence announced a win and investigation to find that obligation behind the village chop, where over $ 1B in Ethereum stole.
Just in: 🇰🇵 North Korea’s Lazarus group behind Bybits Hack of $ 1.4 billion, ZachxBT reports.
– watcher.guru (@watcherguru) February 21, 2025
The Lazarus Group stole more than $ 1.4 billion in liquid stacked ether and Metaeth (meth), according to security analysts on the chain Zackxbt. Bybit -founder Ben Zhou insured users shortly after the hack, “all other cold wallets are safe.”
Arkham Intelligence says ZackxBT’s Bybit chop investigation is crucial
According to Arkham Intelligence, ZackxBT’s submission included a detailed analysis of test transactions and affiliated wallets used before the exploit, as well as several forensic graphs and time analyzes. Arkham explains the analyst’s results as “definitive proof”, that Lazarus is behind the hack. In addition, the analysis of ZackxBT was shared with village bits for their investigation.
If the Lazarus group is really behind the hack, they now own over 500,000 ETH. This is over twice as much as Ethereum founder Vitalik Buterin, which holds 240,000 ETH. Unfortunately for the hackers, the current market conditions are not favorable to liquidate such a large amount of ETH. In the midst of a current baisse -like market, such a large sale would mean somewhere close to such high returns and an overall marketing fatigue after the sale. But since the hack unlocked all the ETH holdings practically free, the group behind the hack could choose to sell its newly found crypto layer at any time. However, the 53 wallets that have the total stolen ETH are tracked in the middle of the investigation.
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