In late 2024, North Korean hacking groups showed reduced activity, possibly reallocating efforts. The Bybit hack in 2025 marked a record-breaking cryptocurrency theft.
North Korea's Cyberattack Slowdown
In late 2024, cybersecurity analysts observed a notable decrease in cyberattacks attributed to North Korean hacking groups, particularly the infamous Lazarus Group. This slowdown coincided with diplomatic engagements between North Korea and Russia, suggesting a possible reallocation of resources.
The Unprecedented Bybit Hack
On February 21, 2025, Dubai-based cryptocurrency exchange Bybit suffered a massive security breach, resulting in the theft of approximately $1.5 billion worth of Ethereum. This incident stands as the largest cryptocurrency heist to date.
Lazarus Group's Involvement
The FBI has attributed the Bybit hack to North Korea’s Lazarus Group. The group employed sophisticated techniques, including deceptive transactions and changes in smart contract logic to gain control of Bybit’s cold wallet.
The Bybit incident underscores the need for enhanced cybersecurity protocols within the cryptocurrency industry and reminds investors to practice caution.
