In this article, we analyze the details of this case, the consequences for the crypto market, and solutions to protect against this type of cyberattack.
🔍 400,000 ETH Heist Linked to the Lazarus Group
📌 Bybit Hit by an Unprecedented Attack
On February 23, 2025, Ben Zhou, CEO and co-founder of Bybit, announced on X that his platform had suffered an attack resulting in the theft of 400,000 ETH, equivalent to approximately $1.5 billion.
According to the FBI, this theft was perpetrated by the Lazarus Group, a cybercriminal organization known for large-scale attacks. The U.S. agency claims the group quickly dispersed the stolen funds across multiple blockchains, complicating traceability.
💰 Where Did the $1.5 Billion Go?
🔄 Conversion to Bitcoin and Fiat Currency
According to the FBI, the Lazarus Group quickly converted part of the stolen ETH into Bitcoin. These were dispersed across thousands of blockchain addresses, making recovery extremely difficult.
💸 An Ongoing Money Laundering Process
Intelligence agencies estimate these digital assets are currently in the money laundering phase, likely through cryptocurrency mixers and lightly regulated exchange platforms.
💡 The FBI Warns of Money Laundering Risks
A major concern is that these funds could be converted into fiat currency to finance illegal activities, including North Korea’s nuclear program.
🎭 The Lazarus Group: A Key Player in Global Cybercrime
⚔️ A Hacker Group Under Pyongyang’s Control
The Lazarus Group gained notoriety in 2014 with the hack of Sony Pictures Entertainment, in retaliation for the film The Interview, which parodied Kim Jong-un.
Since then, this organization has carried out numerous cyberattacks targeting banks, tech companies, and crypto platforms.
🌎 A Cyber Army Deployed Across Multiple Countries
According to a U.S. military report, Bureau 121, North Korea’s cyber warfare unit, includes over 6,000 hackers operating from countries such as:
- 🇨🇳 China
- 🇷🇺 Russia
- 🇲🇾 Malaysia
- 🇧🇾 Belarus
- 🇮🇳 India
The goal of these hackers is to conduct sophisticated attacks to bypass economic sanctions imposed on North Korea.
⚠️ What Risks Do Cryptocurrency Investors Face?
💣 Exchange Platforms: Prime Targets
Cryptocurrency exchanges have become prime targets for cybercriminals, particularly due to the massive volumes of assets they manage.
The main risks are:
🚨 Financial losses in case of hacking.
🔎 Difficulty tracing stolen funds.
📉 Negative impact on the crypto market.
🔐 How to Protect Yourself Against These Cyberattacks?
To limit the risk of fund losses, here are some best practices:
✅ Use a secure wallet (e.g., Ledger, Trezor).
✅ Do not store crypto on an exchange.
✅ Enable two-factor authentication (2FA).
✅ Monitor suspicious addresses on public blockchains.
🌍 An International Challenge to Stop Digital Asset Laundering
🤝 Authorities on High Alert
The cryptocurrency universe is once again shaken by a massive hack...
🌍 A Cyber Army Deployed Across Multiple Countries
According to a 2025 U.S. Defense Department report, Bureau 121 operates through:
🔐 How to Protect Yourself Against These Cyberattacks?
Recommended by CISA (Cybersecurity and Infrastructure Security Agency):
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