The Lazarus hacker group, associated with North Korea, is responsible for the recent theft of $1.4 billion worth of Ethereum (ETH) from the Bybit cryptocurrency exchange. Evidence presented by blockchain researcher ZachXBT confirmed the link to the group through test transactions and related wallets. Arkham Intelligence blockchain data platform also corroborated the connection. Despite the stolen funds being moved to various wallets and around $200 million sold on decentralized exchanges, Bybit CEO Ben Zhou assured users that customer assets are fully supported and the exchange will remain stable. However, the hack negatively impacted the cryptocurrency market, causing Ethereum’s Relative Strength Index (RSI) to drop from 62.8 to 51.6 and its price to decrease by 4%. Bitcoin and other altcoins also experienced price declines. The Lazarus group has previously executed significant attacks, including stealing $625 million from the Ronin Network in 2022 and $100 million from Harmony’s Horizon bridge. In 2024, they stole over $300 million from the Japanese exchange DMM Bitcoin. This attack emphasizes the importance of reinforcing security measures to safeguard digital assets. As a response, the United States, Japan, and South Korea have issued a joint statement to mitigate threats posed by North Korean hackers. Visit the digital currencies’ real-time price page to monitor token and cryptocurrency prices live.
