Lazarus Group Behind Bybit Hack

Bybit, one of the world's largest crypto exchanges with more than 60 million users has recently found victim of more than $1 billion.

One of the world's largest crypto exchanges, Bybit, fell victim to a crypto heist recently, losing over $1 billion. As questions arose about the identity of the attackers, renowned blockchain investigator ZachXBT stepped forward with concrete evidence, linking the hack to the infamous North Korean state-sponsored cybercriminal group, Lazarus.

Now, a blockchain data platform called Arkham Intelligence offered a bounty of 50K ARKM (around $30K) to help identify the individuals behind the massive $1 billion Bybit hack.

However, well-known blockchain investigator ZachXBT took on the challenge and uncovered the truth. Using his deep on-chain analysis skills, he provided solid proof that the Lazarus Group carried out the attack. His investigation revealed test transactions, wallet links before the hack, forensic charts, and timing breakdowns, all pointing directly to the group.

ZachXBT's findings showed that Lazarus first made small test transactions before launching the full attack. This common technique among hackers ensures their methods will work before moving large sums.

Later by carefully tracking wallet movements and transaction timestamps, he was able to trace the stolen funds back to addresses controlled by the Lazarus group.

According to Arkham Intelligence, ZachXBT has shared his findings with Bybit's team to assist in their investigation. While Bybit has yet to release a detailed statement, this new evidence could help them take action to recover lost funds or strengthen their security measures.

Well-known for targeting crypto firms, Lazarus has been linked to several major crypto thefts, making them a prime suspect from the get-go. However, it's not just one team but several groups with different skills behind this group. Some focus on phishing scams, others carry out complex blockchain attacks, and some use fake identities to trick crypto companies.

Last year alone, the group managed to steal over $1.3 billion from different projects, which constitutes 61% of all stolen crypto in 2024.