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Why do the world’s biggest crypto hacks always lead back to Park Jin Hyok? From Sony to Bybit, how has he perfected billion-dollar cyber thefts? Lazarus strikes again In a startling event on Feb. 21, Bybit, a prominent cryptocurrency exchange based in Dubai, fell victim to a massive cyberattack.  Hackers managed to infiltrate the company’s Ethereum (ETH) cold wallet, making off with approximately $1.5 billion in digital assets. This incident is now considered the largest heist in the history of crypto.  The breach was first identified by on-chain analyst ZachXBT, who noticed unusual withdrawals from Bybit’s accounts.  Bybit’s CEO, Ben Zhou, later confirmed that the attackers had manipulated a transaction, deceiving the wallet’s signers into approving a transfer to an unauthorized address.  The sophisticated method involved masking the transaction to appear legitimate, thereby bypassing the multi-signature security protocols in place.  In the aftermath, blockchain investigators have linked the attack to North Korea’s notorious Lazarus Group, a collective infamous for orchestrating significant cyber heists, including the $600 million Ronin Network breach in 2022 and the $234 million WazirX hack in 2024.  Emerging reports suggest that Park Jin Hyok, a member of the Lazarus Group, might be the mastermind behind the Bybit hack.  The Bybit hack has been exposed, and emerging reports suggest that Park Jin Hyok might be responsible. If true, this would place him among the most formidable hackers encountered to date, given his alleged track record. This incident is being described as one of the largest… pic.twitter.com/BqnB8kCPw2 — Nana Sei Anyemedu (@RedHatPentester) February 22, 2025 Hyok is not a new name in the world of cybercrime. In 2018, the FBI issued a wanted notice for him, accusing him of being part of a North Korean state-sponsored hacking organization responsible for some of the most damaging computer intrusions in history. …

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Filed under: News - @ February 25, 2025 8:21 pm