North Korea’s Lazarus Group Behind Bybit’s $1.4 Billion Ethereum Hack: Arkham

Blockchain data platform Arkham Intelligence says that the North Korean state-sponsored Lazarus hacking group is responsible for swiping over $1.4 billion worth of Ethereum (ETH) and related tokens from crypto exchange Bybit on Friday.

The connection to Lazarus was made via on-chain data that linked activity to previous attacks tied to Lazarus, a group that has been tied to numerous other industry hacks and exploits. The connection was made by pseudonymous on-chain sleuth ZachXBT, who has helped solve many other crypto hacks in recent years.

“His submission included a detailed analysis of test transactions and connected wallets used ahead of the exploit, as well as multiple forensics graphs and timing analyses,” Arkham posted on X.

Arkham had posted a bounty, offering nearly $30,000 worth of ARKM tokens in exchange for figuring out who was behind the $1.4 billion hack that rocked Bybit early Friday—and proceeded to shake crypto markets thereafter.

Editor’s note: This story is developing and will be updated with additional details.