North Korea's Lazarus Group Behind Historic $1.5 Billion Crypto Heist

KPNorth Korea|

In a highly sophisticated cyberattack, North Korea's Lazarus Group reportedly stole $1.5 billion in Ethereum from the cryptocurrency exchange Bybit, marking one of the largest heists in history. The incident unfolded swiftly after Bybit CEO Ben Zhou conducted routine transfers on February 21, 2025, only to discover later that the funds had been redirected to numerous digital wallets, according to reports by The New York Times and the FBI.

The FBI confirmed that Lazarus executed the operation through a supply chain attack on Safe{Wallet}, the provider for Bybit’s cold wallet—traditionally viewed as secure due to its offline status. Analysts have highlighted the meticulous planning and execution of this attack, showcasing Lazarus's expertise in cybercrime (Hervé Lambert, Panda Security).

Following the heist, Bybit customers withdrew around $10 billion in cryptocurrency, causing a 20% drop in Bitcoin’s value, the largest since the collapse of FTX in 2022. This hack exposes the growing threat posed by state-sponsored cybercriminals as cryptocurrencies become increasingly vulnerable.

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