Billions of cryptocurrencies evaporated. This is the greatest theft in history

One of the largest cryptocurrency exchanges in the world, Bybitwas attacked by hackers who stole digital assets with a total value $ 1.5 billion. This incident may turn out to be The greatest theft of cryptocurrencies in history.

How did the attack happen?

According to the information provided by CNBChackers violated cold wallet (Cold Wallet), i.e. an offline storage system, which is to ensure maximum security security. The stolen measures were quickly distributed into many wallets and liquefied on various platforms.

Who is behind theft?

Analysis carried out by companies Elliptic and Arkham Intelligence showed that the attack may be related to the Lazarus group – A hacker organization sponsored by the state from North Korea. Lazarus is known for leaving billions of dollars from the cryptocurrency industry to finance the regime in Pyongyang.

The history of cyber attacks for cryptocurrencies

The attack on Bybit exceeds its scale previous incidents in the cryptocurrency sector. For comparison:

• In 2021 Poly Network lost $ 611 million as a result of a hacker attack.

• In 2022, they disappeared from Binance $ 570 million in BNB tokens.

As analyzed Ellipticportfolio addresses have been identified, which were stolen funds, which is to prevent them from further transfer through other exchanges.

How did Bybit reacted?

Boss Bybit, Ben Zhouassured in social media that Other cold portfolios are safeand all payments run normally. As a result of the attack, customers began to massively withdraw funds from the platform, but according to Zhou, the outflows stabilized.

To minimize the financial effects of the attack, Bybit secured bridge loan from business partners, which allowed to cover potential losses and maintain the liquidity of the stock exchange.

What next?

Cyber ​​security experts recommend Bybit Stock Exchange to customers:

• Change of passwords and inclusion of two -component authentication (2FA),
• Avoiding storage of large sums on stock exchanges,
• Monitoring account activity at an angle of unauthorized transactions.

The attack on Bybit can be The greatest theft of cryptocurrencies in historyexceeding the previous incidents by hundreds of millions of dollars. According to analysts, it stands behind the attack Lazarus group from North Korea. The stock exchange ensures the stability of its systems and has taken steps to secure customer assets. However, this event raises questions about further threats in the cryptocurrency sector and ways of counteracting them.