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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...

Crypto sleuth ZachXBT has told the US law firm planning legal action against memecoin platform Pump Fun that its clients are “degenerate gamblers” and shouldn’t be seen as victims or investors. The comment was made via X in response to Burwick Law’s announcement on Wednesday that it was pursuing legal action on behalf of Pump Fun investors who have lost big to “memecoins, rugs, and unfulfilled promises.” ZachXBT said, “ degenerate gamblers willingly choosing to gamble on micro-cap meme coins are not actual victims or investors ” Burwick duly responded, claiming that memecoins are open to manipulation and aren’t comparable to regulated gambling. ZachXBT added if “silly lawsuits” arise, “perhaps I need to release a tutorial for people to fund addresses anonymously on-chain to cause chaos and make it harder for them to be sued .” This is a great point. Scratch-offs are regulated gambling, with clearly defined odds and no method for second...