Bybit Hack Forensics Show North Korean Hackers Stole $1.5 Billion in Largest Crypto Heist by Exploiting SafeWallet Developer
The Hack: What Happened The hack occurred on May 19, 2021, when hackers gained access to Bybit's hot wallet, which contained over $1.5 billion worth of crypto assets. The stolen assets include Bitcoin, Ethereum, Ripple, and other altcoins. The hackers were able to bypass Bybit's security measures by exploiting a vulnerability in SafeWallet, a third-party wallet provider used by Bybit. The Aftermath: Bybit's Response In the aftermath of the hack, Bybit immediately froze all withdrawals and deposits and launched an investigation into the incident. They also issued an official statement on their website, reassuring users that their funds were safe and that they were working to resolve the issue. Bybit also announced that they would be implementing additional security measures to prevent similar attacks in the future. The Culprit: North Korea's Lazarus Group The investigation into the hack led to the discovery that the attack...