The post North Korea’s Lazarus Group behind hack as Bybit loses $1.5B appeared on BitcoinEthereumNews.com.

Key takeaways Bybit suffered the biggest theft of all time in the crypto space after losing $1.5 billion to hackers on Friday.  The Bitcoin Pepe presale is now approaching $3 million as more investors pile in. Bybit suffers the biggest theft of all time in the crypto space Bybit, one of the leading cryptocurrency exchanges in the world, suffered the biggest theft of all time in the crypto space. The company lost $1.5 billion to hackers on Friday. According to ZackXBT, North Korea’s Lazarus Group was behind the hack, and they withdrew nearly $1.5 billion worth of funds from the exchange into a main wallet and then distributed the assets to several different wallets. Blockchain data provider Nansen revealed that the attackers converted all stETH, cmETH, and mETH to ETH before systematically transferring ETH in $27 million increments to over 10 additional wallets. The exploit was caused by something called “Blind Signing.” it is a situation where a smart contract transaction is approved without the comprehensive knowledge of its contents. What is Bitcoin Pepe? The broader crypto market is still in shock following the Bybit hack but that hasn’t halted funding into new and exciting projects. Bitcoin Pepe’s presale began roughly ten days ago, and the team has raised nearly $3 million so far.  Bitcoin Pepe is a project seeking to leverage the liquidity and security of the Bitcoin blockchain. The project will use Bitcoin’s position in the market to introduce memecoins to its ecosystem.  In their whitepaper, the team explained that Bitcoin Pepe is a layer-2 network building on the Bitcoin blockchain. This project is a meme-specialized layer-2 solution built on top of Bitcoin, bringing Solana-style scalability to the Bitcoin network. Bitcoin Pepe seeks to become home to all memecoin trading and move all this economic activity to the…

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Filed under: News - @ February 22, 2025 6:10 am