FBI Confirms Lazarus Group Behind Bybit Hack

Biggest Hack In History

The FBI confirmed that the stolen assets have been converted into Bitcoin (BTC) and other cryptocurrencies, now spread across numerous wallet addresses.

Arkham Intelligence attributes the hack to North Korea’s Lazarus Group, with on-chain data tying the theft to previous Lazarus-linked attacks. The criminals accessed Bybit’s Ethereum (ETH) cold wallet during a transfer on February 21st, marking the largest publicly reported crypto hack in history.

Damage Control

Bybit CEO Ben Zhou reassured users that the exchange remains financially stable and can cover the loss, as client assets are fully backed 1:1.

Security firm SlowMist confirmed that the attack was highly sophisticated, involving compromised developer equipment and malicious code injections. By the weekend, about $140 million had been laundered through accounts linked to North Korean operatives.