North Korean Hackers Steal $1.5B in Ethereum from Bybit

The North Korean Lazarus Group, a notorious cybercrime organization, has been accused of orchestrating a recent hack attack on Bybit, a popular cryptocurrency exchange. The hack, which occurred on March 28, resulted in the theft of a significant amount of Ethereum (ETH) and various derivative ETH assets from the platform.

The hacker, believed to be associated with the Lazarus Group, transferred approximately 490,000 ETH to 49 different addresses following the attack. As of now, around 15,000 cmETH (staked ETH) remains unstaked, pending further action by the hacker. The total value of the stolen assets is estimated to be around $1.5 billion at the time of the hack.

The Lazarus Group, which is believed to be backed by the North Korean government, has been linked to several high-profile cyberattacks in the past, including the WannaCry ransomware attack in 2017 and the Sony Pictures hack in 2014. The group is known for its sophisticated hacking techniques and its ability to evade detection for extended periods.

The Bybit hack is just the latest in a series of high-profile cryptocurrency exchange hacks that have occurred in recent years. As the value of cryptocurrencies continues to grow, so too does the incentive for cybercriminals to target these exchanges. In response to the Bybit hack, the exchange has pledged to compensate affected users and has been working with law enforcement agencies to investigate the incident.

In other news, Circle, the issuer of the stablecoin USDC, has issued an additional 250 million USDC on the Solana network. This move is part of Circle's ongoing efforts to expand the availability of USDC and to support the growth of the Solana ecosystem. Additionally, the LayerZero Foundation has deposited 1 million ZRO tokens, worth approximately $3.06 million, to Coinbase, a popular cryptocurrency exchange.