Bybit Hack: Crypto Exchange eXch Under Fire for Allegedly Processing Stolen Funds
The crypto world is buzzing with controversy after hackers stole a staggering $1.4 billion from Bybit on February 21, making it the biggest crypto hack in history. The attack, which saw cybercriminals gain control of Bybit’s Ether multisig cold wallet, has been linked to North Korea’s Lazarus Group . In trailing news, North Korean hackers have started laundering funds stolen from Bybit, with blockchain intelligence firm Elliptic tracking over $140 million in suspicious transactions. Interestingly as per the report , the attackers are mostly using decentralized exchanges and anonymous crypto services to cover their tracks before converting the stolen assets into Bitcoin. The entire process is so complex that it is harder for the authorities to trace the stolen funds. The Bybit hack, which took place on Friday, has now been confirmed as the largest crypto theft in history, with $1.46 billion stolen, primarily in Ethereum. This surpasses the 2021 Poly Network ha...