A cybersecurity firm has alleged that North Korean hackers executed a sophisticated cyberattack, stealing approximately $1.5 billion in digital assets from Bybit, a major cryptocurrency exchange. Dubai-based Bybit confirmed the breach, labeling it the largest cryptocurrency heist to date, raising critical concerns about the security of digital asset platforms.
TRM Labs, a blockchain intelligence firm, claimed with “high confidence” that North Korean-linked hackers were behind the attack. The firm based its conclusion on an analysis of transaction patterns but did not provide direct evidence. The stolen Ethereum tokens, worth $1.5 billion, were tracked in real time by TRM as they moved across various addresses.
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Despite TRM’s assertions, the FBI has not commented on the allegations, and no independent law enforcement agency has verified the claims.
This is not the first time North Korean hackers have been accused of large-scale crypto thefts. In December 2023, US and Japanese authorities accused North Korea of a $308 million theft from a Japanese crypto firm, although Pyongyang has consistently denied involvement in cybercrime.
Bybit confirmed that the hack occurred during a routine Ethereum transfer, and while customer holdings were not compromised, the breach led to a flood of withdrawal requests. CEO Ben Zhou reassured users that the exchange remains financially stable, despite the massive loss. The investigation into the heist is ongoing, with no conclusive proof linking the attackers to North Korea yet.
