The FBI actively calls on major crypto market players to prevent transactions linked to the record Bybit heist. The North Korean group Lazarus is responsible for this crime, valued at $1.4 billion.
Cryptocurrency Hijackers: The Bybit Case
On February 26, 2025, the FBI made a public appeal urging node operators, exchanges, and other organizations to block transactions related to the massive Bybit hack. The attack, which occurred on October 21, allowed hackers to steal $1.4 billion, mostly in Ether (ETH), setting a new low in cryptocurrency heist history. The American security service attributes the attack to the North Korean group Lazarus, also known as TraderTraitor, APT38, BlueNoroff, and Stardust Chollima, and released a list of 51 Ethereum addresses belonging to the hackers. However, analysis company Elliptic has identified over 11,000 suspicious wallets involved in the operation.
Race Against Time: Preventing Money Laundering
Research by analysts such as ZachXBT and Arkham Intelligence showed that the same wallets involved in the Bybit hack were also used in the Phemex hack in January 2025. This finding confirms that the Lazarus group consolidates stolen funds from various attacks before proceeding with money laundering operations. Since October, hackers have already laundered over 135,000 ETH, worth approximately $305 million at current rates, but about 363,900 ETH remain untouched in their wallets.
Inevitable Cooperation: A Joint Fight Against the Threat
This incident is part of a worrying trend: in 2024, North Korean hackers stole an estimated $1.34 billion in digital assets, representing a 102% increase compared to 2023. Among their victims are the Ronin network with $600 million and WazirX with $230 million. In the face of this unprecedented threat, collaboration between authorities and crypto market participants is crucial. The FBI is intensifying its work in this area. The recent search at the CEO of Polymarket confirms this. The involvement of U.S. authorities in the crypto sphere raises both hopes and questions.
The FBI and the crypto industry join forces in countering the threat posed by North Korean hackers. Despite all challenges, collaboration and active actions of market participants can reduce the risks of such attacks in the future.
