On February 21, 2024, the cryptocurrency exchange Bybit was attacked by hackers, leading to the theft of over $1.4 billion in various assets. Bybit's co-founder and CEO Ben Zhou has announced actions against those responsible for the crime.
The Hack and Its Consequences
On February 21, the North Korea-affiliated cyber group Lazarus stole over $1.4 billion from Bybit in assets like STETH, mETH, and other ERC-20 tokens. According to reports, this marks one of the largest hacks in crypto industry history.
Bybit's Response
In response to the incident, Ben Zhou urged users to support a 'war against Lazarus' and announced the launch of a website offering a reward for tracing illegally moved funds. The website promises a 10% bounty of any frozen crypto recovered as a result of successful intercepts.
Decrease in the Number of Hacks
According to PeckShield, the number of hacks and scams in the crypto industry has been decreasing since 2022. Despite this, criminal groups such as Lazarus continue to pose a significant threat to market security.
The attack on Bybit highlights that despite a decrease in the overall number of hacks, the threat to cryptocurrency exchanges remains high. Bybit's measures may set a new standard for security in the crypto industry.
