The post North Korean Lazarus Group Behind $1B Bybit Hack – Arkham Intelligence appeared first on Coinpedia Fintech News
Bybit, one of the world’s largest crypto exchanges with more than 60 million users has recently found victim of more than $1 billion. As questions arose about who was behind the attack, renowned blockchain investigator ZachXBT stepped forward with concrete evidence, linking the hack to the infamous North Korean state-sponsored cybercriminal group, Lazarus.
Lazarus Group Behind Bybit Hack
Blockchain data platform Arkham Intelligence recently offered a bounty of 50K ARKM (about $30K) to help & identify who was behind the massive $1 billion Bybit hack.
However, well-known blockchain investigator ZachXBT took on the challenge and uncovered the truth. Using his deep on-chain analysis skills, he provided solid proof that the Lazarus Group carried out the attack. His investigation revealed test transactions, wallet links before the hack, forensic charts, and timing breakdowns, all pointing directly to the group.
ZachXBT’s findings showed that Lazarus first made small test transactions before launching the full attack. Hackers use this common technique to ensure their methods will work before moving large sums.
Later by carefully tracking wallet movements and transaction timestamps, he was able to trace the stolen funds back to addresses controlled by the Lazarus group.
Waiting For Bybit’s Response
Arkham Intelligence confirmed that ZachXBT has shared his findings with Bybit’s team to assist in their investigation. While Bybit has yet to release a detailed statement, this new evidence could help them take action to recover lost funds or strengthen their security measures.
History Of Notorious Act By Lazarus Group
Lazarus is known for targeting crypto firms and has been behind several major crypto thefts, making it a main suspect from the start. However, it’s not just one team but several groups with different skills behind this group.
Some focus on phishing scams, others carry out complex blockchain attacks, and some use fake identities to trick crypto companies.
Last year alone, the group managed to steal over $1.3 billion from different projects, making up 61% of all stolen crypto in 2024.
