Bybit revealed a "sophisticated" attack resulting in the theft of over $1.5 billion in cryptocurrency from its Ethereum cold wallet, marking the largest crypto heist in history. The attacker manipulated the signing interface to alter smart contract logic, gaining control of the wallet. While Bybit assured that other cold wallets remain secure and reported the incident to authorities, blockchain firms Elliptic and Arkham Intelligence attributed the hack to North Korea’s Lazarus Group. This surpasses previous major heists, including Ronin Network ($624M) and Poly Network ($611M). Lazarus, responsible for $1.34 billion in crypto thefts across 47 attacks in 2024 alone, continues to exploit security gaps in the cryptocurrency sector.

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