North Korean Cyber Criminals $1.19 Billion Crypto Heist

SOURCE www.the-sun.com
North Korean cyber criminals are suspected of carrying out a $1.19 billion crypto heist, considered the worst hack in history. The hackers gained control of an Ethereum wallet and transferred its contents to an unidentified address. Bybit exchange confirmed the theft, and Arkham Intelligence accused North Korea's Lazarus Group of the hack.

Key Points

  • North Korean cyber criminals suspected of the worst hack in history
  • Bybit exchange confirmed the $1.19 billion crypto theft
  • Arkham Intelligence accused North Korea's Lazarus Group of the hack

Pros

  • Bybit exchange is solvent even after the hack
  • All client assets are 1 to 1 backed
  • Bybit has reported the crime to the police and is working to find the criminals

Cons

  • North Korea's Lazarus Group suspected of the hack
  • Value of Ethereum dropped by about four per cent after the attack