North Korea Stole $1.4 Billion in Largest Crypto Heist Ever, Researchers Say

North Korea has gotten away with its biggest crypto heist yet, this time stealing approximately $1.4 billion worth of Ethereum, about 400,000 coins, from the cryptocurrency exchange ByBit. The company’s CEO Ben Zhou on Monday said the company was able to raise new funding to fill the gap and that ByBit can cover all withdrawals, though you might remember a certain other exchange CEO who made the same promise before his exchange abruptly collapsed. The company is offering a 10% bounty for any funds that are returned, though security researchers say that 10% of the stolen funds have already been laundered and likely cannot be returned. Because cryptocurrency transactions are recorded on a public blockchain, researchers were quick to identify North Korea’s state-sponsored hacking group Lazarus Group as being responsible for this latest heist. According to TechCrunch, researchers saw that many of the funds stolen from Bybit were “being commingled with funds from multiple DPRK-attributed ... Read full article.