North Korean cybercriminals are suspected of executing the largest cryptocurrency heist in history, stealing $1.19 billion from Bybit’s Ethereum wallet. The hackers transferred the funds to an unidentified address. Blockchain analytics firm Arkham Intelligence has implicated North Korea’s Lazarus Group, though confirmation is pending. Bybit CEO Ben Zhou assured that the company remains solvent and is collaborating with law enforcement to trace the perpetrators. This incident follows previous significant crypto thefts attributed to North Korea, including $800 million in 2024 and $1.7 billion in 2022. The attack caused a 4% drop in Ethereum’s value.
