The Venn Network team suspects the threat was linked to the North Korean Lazarus Group, citing its complexity and widespread deployment.
Lazarus Group News
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TRM Labs said North Korea is moving away from hacks to focus more on deception-based revenue generation, such as planting IT workers in US companies.
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The stablecoin giant froze over $12.3 million worth of funds, pointing to potential illicit activity or AML violations.
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The analysis by the BitMEX security researchers revealed amateur-level operational security lapses in the Lazarus Group’s hacker network.
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OKX said its upgrades to the re-launched DEX aggregator include measures to identify suspicious or fraudulent onchain activity from hackers and other bad actors.
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Kraken says a North Korean actor applied for a tech job at the crypto exchange but foiled their plan after a tip-off from industry partners.
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The US government and global regulatory efforts had a major effect on crypto compliance over the past few years, according to Elliptic's James Smith.
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Crypto hackers have already surpassed the $1.49 billion stolen during 2024, according to Immunefi’s latest research.
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Almost 70% of the stolen Bybit funds “remain traceable,” said CEO Ben Zhou, who is pinning his hopes on bounty hunters to decipher crypto mixers used to launder the loot.
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Bybit’s market share rebounded to its pre-hack levels of over 7% despite a broader macro “de-risking” among cryptocurrency investors.
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Cyberattacks originating from the country range from social engineering attempts to assaults on exchanges and can take a year to play out.
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North Korea’s pause in cyberattacks during late 2024 may have been a resource reallocation ahead of the largest cryptocurrency hack in history.
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The removal follows a January ruling by a US appeals court saying the sanctions were unlawful.
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Bybit has already paid out $2.2 million for “bounty hunters” who can provide valuable information on the Lazarus Group’s transaction patterns related to the stolen funds.
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CertiK’s chief business officer, Jason Jiang, tells The Agenda that a lack of comprehensive regulation has made the fallout from the hack even worse.
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