The crypto community is shocked after Lazarus Group's new attack on Bybit, affecting the entire market.
Impact of the Recent Bybit Hack
On February 21, 2025, the cryptocurrency exchange Bybit experienced the largest cyberattack with about $1.5 billion stolen. This event led to a 20% drop in the crypto market value, affecting major cryptocurrencies like Bitcoin and Ethereum.
OKX Response to Lazarus Group Threat
According to the latest reports, the cryptocurrency exchange OKX temporarily paused its DEX aggregator's operation for security reasons following information about a possible attack by the Lazarus Group. This decision was made amidst increasing market volatility.
Lazarus Group: True Menace or Cover for Other Hackers?
Over the past decade, the Lazarus Group has gained notoriety for multiple significant crypto platform hacks. Since 2021, they allegedly stole over $5 billion, including attacks on exchanges like WazirX, Ronin, and Poly Network. However, some experts believe the group's reputation is used as a cover for other hackers.
The rise in crypto industry attacks raises concerns, especially amid plans to officially recognize cryptocurrencies. Strengthening security measures is crucial for maintaining confidence in digital assets.
