$1.4B Stolen in Largest Crypto Hack – Lazarus Group Suspected

Bybit has suffered a massive security breach, losing around $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH), and other ERC-20 tokens. This is one of the biggest crypto heist in history, shaking confidence in centralized exchanges and raising serious questions about security. If a major platform like Bybit can be breached, who’s really safe?

Early reports suggest a sophisticated attack, possibly linked to the notorious North Korean hacker group Lazarus. Meanwhile, security firms are racing to uncover the truth, with a $31,500 bounty now on the table for anyone who can track down the culprits.

Here’s everything you should know.

Bybit Hack Breaks Previous Records

Until now, the $600 million Poly Network hack in 2021 was the largest in crypto history. Bybit’s breach has now surpassed that, making it the most severe attack ever recorded.

Experts have also pointed out similarities between this hack and other major breaches, including:

• $58 million Radiant Capital exploit
• $230 million WazirX hack

How Hackers Pulled Off the Attack

According to Trezor analyst Lucien Bourdon, the hackers used advanced social engineering techniques to deceive transaction signers. They tricked them into approving a malicious transaction, which allowed the attackers to drain funds.

Can Centralized Exchanges Ever Be Secure?

This attack has further damaged confidence in centralized exchanges. Despite using advanced security systems, the breach proves that even top platforms are at risk.

With blockchain investigators now racing to uncover those responsible, the crypto industry is watching closely. Will the bounty lead to a breakthrough, or will this become another unsolved crypto mystery?