
FBI Blames North Korean Hackers for $1.5B Bybit Heist: A Wake-Up Call for Crypto Security
Edited by Matt Waller
In a dramatic blow to the cryptocurrency world, the FBI has confirmed that state-sponsored hackers from North Korea were behind the $1.5 billion theft from the Bybit exchange on February 21, 2025. Dubbed “TraderTraitor,” this sophisticated attack exploited advanced social engineering techniques to deceive Bybit’s cold storage security systems, raising serious concerns about the vulnerability of digital asset platforms worldwide.
Key Points
State-Sponsored Cybercrime: North Korean hackers, likely part of the notorious Lazarus Group, executed the attack using a counterfeit Safe Wallet interface.
Massive Theft: Nearly $1.5 billion in Ethereum was stolen from Bybit’s cold storage wallet.
Obscured Fund Movements: Stolen funds were conver...