FBI accuses North Korean-backed hackers of stealing $1.5 billion from bybit

[bitmover]

https://apnews.com/article/bybit-exchange-crypto-hack-north-korea-7c8335c1397261554138090c2c38f457
FBI accuses North Korean-backed hackers of stealing $1.5 billion in crypto from Dubai-based firm

The FBI has accused North Korean-linked hackers of conducting one of the largest thefts of cryptocurrency publicly known, seizing some $1.5 billion worth of ethereum from a Dubai-based firm.

The theft earlier this month targeting Bybit, one of the world’s largest crypto exchanges, represents yet another involving a team of hackers identified by the U.S. government by the names TraderTraitor and the Lazarus Group.

Looks like it was indeed the Lazarus group.

I imagine how does their government make incentives for hackers to do that. Probably to north Korea government doesn't even punish the hackers who stole the money.

[rdluffy]

I imagine how does their government make incentives for hackers to do that. Probably to north Korea government doesn't even punish the hackers who stole the money.

Given what we know about the North Korean regime, my opinion is that the group belongs to the government and all this hacked money is going into the government's coffers to strengthen the authoritarian regime

Ordinary North Koreans don't have free access to the internet, and the level of sophistication of the hacking suggests that it requires a lot of knowledge and experience in crypto, programming and English
It must be a way of raising money from abroad, since NK is almost completely enclosed

[target]

Easy to accuse North Korean government since their people couldn't read these news. I bet they'd react not true if they ever got access to the news. They've been isolated since the world isolate them as well but they do have friends like Russia and China.

Everyting is still an accusation though, even in the past they were also accused but nothing happened. So if even an exchange wants to steal the money from the users, they can always say they are hacked and accuse the Lazarus and they are off the hook of the responsibilities but blame North Korean government.

[Mia Chloe]

Looks like it was indeed the Lazarus group.
I imagine how does their government make incentives for hackers to do that. Probably to north Korea government doesn't even punish the hackers who stole the money.

I've come across a couple of discussions about these Bybit hack and for most of them especially on social media platforms they seemed to be referring to a well-known hacking group which is the Lazarus group just like you mentioned however they are origin is related to Korea and I really don't think I need to take this as a move from the government against them.

This is because it wouldn't be nice for a problem like this to become political since Bybit is a company from another country and not Korea also.

[ZAINmalik75]

Looks like it was indeed the Lazarus group.

I imagine how does their government make incentives for hackers to do that. Probably to north Korea government doesn't even punish the hackers who stole the money.

It always the Lazarus group if I am not wrong most of the hacks that happened till now in the history of crypto are done by this group because at the end of 2024 there was a report in which they mentioned how much money was stolen and 90% of them was done from Lazarus group.

I doubt this group of hackers is working for North Korea it maybe them North Korea's Government itself doing all these hacks. So hackers don't have to worry about anything.

[Findingnemo]

I doubt this group of hackers is working for North Korea it maybe them North Korea's Government itself doing all these hacks. So hackers don't have to worry about anything.

I am sure they are, because North Korea is like a place where everything is under censorship they even look out for the frame of their leaders in every home so how come they are not aware of hackers who operate in their. Why catching them is so hard because the government doesn't let anybody in even visit the country as tourists is only after heavy scrutiny and only with controlled guidance.

[yhiaali3]

The Lazarus Group has finally been officially charged, everyone knew from the beginning that this dangerous group was behind this attack, but what next?

This dangerous group has carried out dozens or hundreds of hacking operations over the past years and it has been confirmed that they are the perpetrators, but no one dares to hold them accountable because they are under the protection of the insane tyrant!!!

He must now be developing his nuclear weapons to increase his power and the greatness of his madness without anyone daring to punish him or the criminal Lazarus Group, are we now living under the law of the jungle where no one dares to approach the strong? It is painful to see the criminal in front of you but you cannot do anything!!! 

[bitmover]

I imagine how does their government make incentives for hackers to do that. Probably to north Korea government doesn't even punish the hackers who stole the money.

Given what we know about the North Korean regime, my opinion is that the group belongs to the government and all this hacked money is going into the government's coffers to strengthen the authoritarian regime

Thinking this way, it would be amazing to see tether freezing those funds.

Sadly, they didn't steal tether as far as I know. And an ethereum fork would be terrible

[robelneo]

https://apnews.com/article/bybit-exchange-crypto-hack-north-korea-7c8335c1397261554138090c2c38f457
FBI accuses North Korean-backed hackers of stealing $1.5 billion in crypto from Dubai-based firm

The FBI has accused North Korean-linked hackers of conducting one of the largest thefts of cryptocurrency publicly known, seizing some $1.5 billion worth of ethereum from a Dubai-based firm.

The theft earlier this month targeting Bybit, one of the world’s largest crypto exchanges, represents yet another involving a team of hackers identified by the U.S. government by the names TraderTraitor and the Lazarus Group.

Looks like it was indeed the Lazarus group.

I imagine how does their government make incentives for hackers to do that. Probably to north Korea government doesn't even punish the hackers who stole the money.

Its already confirmed to be Lazarus Group, and as the hackers and the North Korean government is benefiting from their hacking activity, Wikepia considers Lazarus Group as being run and managed by the North Korean.
The North Korean government has an economic embargo, they do not have a robust economy, and it is believed that they use the money to sustain their arms, so expect more hacking activity from this group.

[Zed0X]

~
Thinking this way, it would be amazing to see tether freezing those funds.

Sadly, they didn't steal tether as far as I know. And an ethereum fork would be terrible

So Ethereum mixers then? It looks like Tornado Cash is still the popular go to for scammers trying to wipe out traces/links of stolen crypto. Recently, another news  came out that a different platform was exploited by its former dev with $49.5M USDC and it was laundered via TC.

[examplens]

Easy to accuse North Korean government since their people couldn't read these news. I bet they'd react not true if they ever got access to the news. They've been isolated since the world isolate them as well but they do have friends like Russia and China.

Everyting is still an accusation though, even in the past they were also accused but nothing happened. So if even an exchange wants to steal the money from the users, they can always say they are hacked and accuse the Lazarus and they are off the hook of the responsibilities but blame North Korean government.

What exactly do you expect would happen even if the people there read the news? Do you think they would rebel against the current regime or glorify the victory over the Western world? I would not be surprised if they are ready for even greater sacrifices if it will bring them more "victories" like this.

I agree that lately, the Lazarus group has been blamed for everything, which happens to be in a territory where it is not possible to conduct investigations. Maybe they did this time, but I'm sure there were previous failures that were attributed to Lazarus even though these had nothing to do with it.

[Crwth]

I have read somewhere that they have also been alleged in some other Hacks. It is up to Target to exploit some stuff and take advantage of Security problems. it is still better to have your own funds in your wallet and use the decentralised exchanges if you can.

[TomPluz]

Considering the many things we already know on this rogue government of North Korea, we can easily conclude that this Lazarus hackers are sponsored by the government and they are motivated not just with money but also that fear that if you are not successful on your task the government will punish you for your failure. Maybe it is time that countries like USA start to try to recruit these hackers to come outside - or be smuggled, really - and help with their genius in putting a lid to the effectiveness of this group in wreaking havoc with the cryptocurrency industry. Or to be safer...big players in the industry should come as one in putting up a group that can counteract the Lazarus' movement and until then there can be more coming heists as months and years go by. Personally, I feel that nothing is really secured anymore...if these hackers can successfully get into big platforms with good level of investments with security they can get into anyone anytime they want to.

[JorvikCoin]

Easy to accuse North Korean government since their people couldn't read these news. I bet they'd react not true if they ever got access to the news. They've been isolated since the world isolate them as well but they do have friends like Russia and China.

Everyting is still an accusation though, even in the past they were also accused but nothing happened. So if even an exchange wants to steal the money from the users, they can always say they are hacked and accuse the Lazarus and they are off the hook of the responsibilities but blame North Korean government.

What exactly do you expect would happen even if the people there read the news? Do you think they would rebel against the current regime or glorify the victory over the Western world? I would not be surprised if they are ready for even greater sacrifices if it will bring them more "victories" like this.

I agree that lately, the Lazarus group has been blamed for everything, which happens to be in a territory where it is not possible to conduct investigations. Maybe they did this time, but I'm sure there were previous failures that were attributed to Lazarus even though these had nothing to do with it.

It is true that accusations against North korea are often difficult to verify due to the country's isolation. Without independent investigations, it is hard to determine the full extent of their involvement in cybercrimes. However, given past incidents and reports from cybersecurity firms, it's understandable why Lazarus is frequently suspected. If the North Korean people had to access to these reports, their reaction would likely depend on their level of exposure to outside perspectives. in the end, without transparency, accountability remains a challenge for both the accused and the accusers.

[examplens]

I have read somewhere that they have also been alleged in some other Hacks. It is up to Target to exploit some stuff and take advantage of Security problems. it is still better to have your own funds in your wallet and use the decentralised exchanges if you can.

But in this specific case that this topic deals with, the Bybit exchange was hacked. It is a company, there are no personal funds or personal wallet. The hack came through a flaw in the wallet.