Collaboration in the Wake of Record-Breaking Bybit Theft
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On February 21, 2025, Bybit, a prominent cryptocurrency exchange, experienced a significant security breach resulting in the loss of nearly $1.5 billion worth of ether (ETH). This incident stands as the largest digital heist in the history of cryptocurrency. Fortunately, Bybit is actively collaborating with industry experts, including Chainalysis, to trace the stolen assets. They have also launched a recovery bounty program, offering up to 10% of the recovered amount to individuals who assist in retrieving the stolen crypto.
In this blog, we’ll look at how the exploit occurred; the attackers’ tactics, techniques, and procedures (TTPs) and their consistency with the Democratic People’s Republic of Korea (DPRK); and how Chainalysis is collaborating with Bybit and law enforcement to help recover funds.
Details of the Bybit exploit
The Bybit hack serves as a stark reminder of the evolving tactics employed by state-sponsored cybercriminals, particularly those linked to the DPRK. As we recently revealed in …
In this blog, we’ll look at how the exploit occurred; the attackers’ tactics, techniques, and procedures (TTPs) and their consistency with the Democratic People’s Republic of Korea (DPRK); and how Chainalysis is collaborating with Bybit and law enforcement to help recover funds.
Details of the Bybit exploit
The Bybit hack serves as a stark reminder of the evolving tactics employed by state-sponsored cybercriminals, particularly those linked to the DPRK. As we recently revealed in …