Bybit Faces Historic $1.5 Billion Crypto Heist by North Korea's Lazarus Group
Bybit was targeted in an unprecedented crypto heist, losing $1.46 billion from its Ethereum cold wallet. North Korea's Lazarus Group exploited vulnerabilities in Bybit's multisig signing process, deceiving employees, including CEO Ben Zhou, into approving illegitimate transactions. The stolen funds were swiftly laundered. Bybit, however, quickly replenished its reserves, maintaining stability in user asset balances.
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