Ilya Vedmedenko18:28, 25.02.25

The crypto industry has faced its largest attack on a centralized exchange.

State-backed North Korean hackers have stolen $1.5 billion worth of cryptocurrency in the “biggest heist in history”, The Telegraph reports .

Pyongyang’s agents managed to hack into the systems of the Dubai exchange Bybit and steal the cryptocurrency Etherium.

According to analysts, in one attack, hackers stole more cryptocurrency than all North Korean cybercriminals in 2024.

The $1.5 billion total also dwarfs one of the biggest bank heists, when Saddam Hussein stole $1 billion from Iraq’s central bank before the 2003 war.

Experts have found that the “threads” lead to the Lazarus group, which is closely linked to the DPRK government and has already been involved in incidents involving the theft of crypto assets. It was previously reported that the attackers took advantage of a vulnerability in the transaction signing mechanism.

Chainalysis (a company that specializes in blockchain analysis) noted that the attack was a vivid reminder of the “advanced tactics” used by North Korean hackers. In addition to technical skills, North Korean hackers are skilled in so-called “social engineering.” In other words, manipulating people.

It should be noted that the management of the Bybit exchange assures that all its other wallets remain safe, and the withdrawal of funds operates as usual.

North Korea – Latest News

Earlier, the head of Ukrainian intelligence Kirill Budanov said that the DPRK meets 50% of all the Russian front’s expenses in ammunition. He added that large-scale deliveries of 170-mm self-propelled howitzers and 240-mm multiple launch rocket systems to the Russians have already begun.

In turn, the South Korean Defense Ministry says that the DPRK has transferred 200 units of long-range artillery to Russia. The Defense Ministry believes that North Korea will double its efforts to manufacture weapons this year.

(C)UNIAN 2025