Cryptocurrency : The heist of the century from North Korea

A historic cryptocurrency heist attributed to the North Korean group Lazarus, dubbed « TraderTraitor » by the FBI, has rocked the industry. Approximately $1.5 billion was stolen in a single attack on the Dubai-based exchange Bybit, making it the largest crypto heist ever recorded and surpassing all hacks in 2024 combined.

According to investigations, the North Korean attackers compromised a Bybit multi-signature cold wallet using sophisticated social engineering and user interface manipulation, managing to divert 410,000 Ether (ETH) and stETH to their own addresses in just two minutes. Immediately afterward, approximately $160 million of these funds were laundered through decentralized exchanges and cross-chain bridges such as Chainflip.

Bybit has managed to freeze $42.3 million and is offering a $140 million reward for the recovery of the stolen funds.

The FBI estimates that North Korea is using these cyberattacks to finance its ballistic missile programs: since 2017, the country has reportedly stolen more than $6 billion in cryptocurrencies.