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Author | Chu Yan Translated by GPT and may contain errors. Please refer to the original article . Recently, the cryptocurrency exchange Bybit was involved in the largest theft in the crypto industry, with North Korean hackers stealing approximately $1.4 billion in cryptocurrency from Bybit's cold wallet. According to information disclosed by Bybit CEO @benbybit on X, the hackers converted the majority of the stolen ETH into BTC via THORChain, with around 16% of the illicit funds transferred to ExCH and another 8% exchanged through the OKX Web3 proxy contract. Picture: Bybit Hacking and Money Laundering Chain Link (Source: LazarusBounty) Following this incident, Bloomberg reported that European cryptocurrency regulators are investigating the usage of OKX wallet services by the hackers to mix and exchange the stolen funds. Today, OKX announced through an official statement that it has proactively decided to temporarily suspend its DEX aggregator service after consulting with regulato...

North Korea’s Lazarus Group is behind Bybit’s $1.4 billion hack earlier on Friday, according to an investigation by ZachXBT . Arkham Intelligence announced a bounty and investigation into finding the culprit behind the ByBit hack, where over $1B in Ethereum was stolen. JUST IN: North Korea's Lazarus Group behind Bybit's $1.4 billion hack, ZachXBT reports. — Watcher.Guru (@WatcherGuru) February 21, 2025 The Lazarus Group stole more than $1.4 billion in liquid-staked Ether and MetaETH (mETH), according to on-chain blockchain security analyst ZackXBT. ByBit Founder Ben Zhou assured users shortly after the hack, “All other cold wallets are secure.” “Unfortunately, this transaction was manipulated through a sophisticated attack that masked the singing interface, displaying the correct address while altering the underlying smart contract logic,” Zhou’s platform said. This allowed the hacker to gain control of the specified wallet in question and transfer funds. Arkham Inte...