North Korea's Lazarus Group behind the $1.2 Billion Ethereum Heist. 🇰🇵

A massive $1.19 billion crypto theft has shaken the industry, with North Korea’s Lazarus Group accused of hacking an Ethereum wallet on Bybit. The February 23 attack caused Ethereum’s price to drop 4%, reigniting concerns over exchange security.

Blockchain forensics firm Arkham Intelligence linked the breach to Lazarus, known for funding Pyongyang through cybercrime. Bybit CEO Zhou confirmed 350,000 withdrawal requests but assured users that assets remained secure. Recovery efforts face challenges despite global law enforcement involvement.

The heist follows North Korea’s growing reliance on crypto theft, with Lazarus previously orchestrating billion-dollar breaches, including the $625M Ronin Network hack. Experts stress the need for multi-signature wallets, AI-driven security, and stronger regulatory collaboration to combat state-backed cyber threats.

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