Bybit exchange hacked for $1.4 billion, with 54% of stolen funds laundered by hackers.

From Cointelegraph

February 28, 2025 06:38:47 would be “Friday, February 28, 2025 6:38:47 AM”:

Bybit exchange was hacked for over $1.4 billion in crypto, the largest hack in crypto history. The exploiters have laundered over $605 million worth of Ether, or 54% of the stolen funds. North Korea’s Lazarus Group was identified as the main culprit behind the hack, using THORChain to launder the funds.

THORChain’s swap volume rose past $1 billion after the Bybit hack, leading to controversy over enabling North Korean agents to launder illicit funds. A leading THORChain developer, known as “Pluto,” announced his exit after a vote to block North Korean transactions was reverted. The FBI confirmed North Korea’s involvement in the hack.

The FBI has urged crypto validators and exchanges to cut off the Lazarus Group. THORChain founder John-Paul Thorbjornsen stated that none of the sanctioned wallet addresses listed by the FBI has interacted with the protocol. He emphasized the challenge of censoring blockchains like THORChain.

Read more at Cointelegraph

1. Bitcoin hits new all-time high, reaching $50,000 for the first time.
2. Ethereum also surges, breaking $2,000 mark.
3. Tesla announces $1.5 billion investment in Bitcoin, plans to accept it as payment.
4. Analysts predict continued growth for cryptocurrency market.
5. Market cap of all cryptocurrencies surpasses $1.5 trillion.: Bybit hacker launders $605M ETH, over 50% of stolen funds