North Korean Hackers Blamed For Cryptocurrency Theft

The hackers stole around $1.5 billion worth of digital currency from Bybit, a major cryptocurrency exchange.

North Korean hackers are behind a sophisticated hack involving crypto currency.

The hackers stole around $1.5 billion worth of digital currency from Bybit, a major cryptocurrency exchange.

The attackers compromised one of Bybit’s offline cold wallets in what was possibly a supply chain attack, insider threat, or a sophisticated private key compromise.

The blame was tracked to North Korean hackers based on substantial overlaps observed between addresses controlled by the hackers and those linked to prior North Korean thefts.

Bybit is now reassuring customers that their cryptocurrency holdings with the exchange are safe.

The company added that news of the hack led to a surge in withdrawal requests. There could be delays in processing them.

Bybit CEO Ben Shou said his company will remain solvent even if the hacked crypto is not recovered.