$1.5 Billion Bybit Exchange Hack the Work of North Korean Hacker Group Lazarus

In a stunning revelation, blockchain security expert ZachXBT has cracked the case of a monumental $1.5 billion hack targeting Bybit, one of the industry’s leading crypto exchanges.

ZachXBT, a name synonymous with transparency and relentless investigation in the crypto space, revealed that he submitted definitive proof to solve a bounty launched by Arkham, a prominent cryptocurrency trading platform, to identify the perpetrators behind this unprecedented breach.

The hack, which saw $1.5 billion drained from Bybit’s wallets—making it the largest cryptocurrency heist in history—unfolded earlier today, leaving Ethereum traders reeling from $76 million in liquidations within just four hours, tanking the price of ETH. ZachXBT was the first to detect the suspicious outflows, leveraging his unparalleled skills in blockchain tracing to uncover the intricate web of 39 different addresses where the stolen Ethereum was dispersed.

A Beacon of Hope in Crypto Security

ZachXBT’s breakthrough not only highlights his reputation as a trusted figure in the fight against crypto fraud but also amplifies the role of collaborative efforts like Arkham’s bounty program. Arkham’s initiative, offering 50,000 ARKM tokens for information leading to the hacker’s identification, reflects a growing trend in the industry to harness community-driven intelligence, reminiscent of platforms like HackerOne. Bybit’s co-founder and CEO, Ben Zhou, confirmed the attack, describing how a manipulated transfer allowed hackers to breach the exchange’s ETH cold wallet—a stark reminder of the vulnerabilities even major platforms face.