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Market

FBI Confirms Lazarus Group Behind Bybit Hack

The FBI has officially linked last week's $1.4 billion crypto theft from Bybit to North Korean hackers, identifying the operation as "TraderTraitor" in a public announcement on Wednesday.

Haider Jamal
February 27, 2025

Biggest Hack In History

The FBI confirmed that the stolen assets have been converted into Bitcoin (BTC) and other cryptocurrencies, now spread across numerous wallet addresses.

Arkham Intelligence attributes the hack to North Korea’s Lazarus Group, with on-chain data tying the theft to previous Lazarus-linked attacks. The criminals accessed Bybit’s Ethereum (ETH) cold wallet during a transfer on February 21st, marking the largest publicly reported crypto hack in history.

Damage Control

Bybit CEO Ben Zhou reassured users that the exchange remains financially stable and can cover the loss, as client assets are fully backed 1:1.

Security firm SlowMist confirmed that the attack was highly sophisticated, involving compromised developer equipment and malicious code injections. By the weekend, about $140 million had been laundered through accounts linked to North Korean operatives.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.