Bybit Hack

In February 2025, Bybit suffered one of the largest cryptocurrency heists in history, with attackers linked to the North Korean-affiliated Lazarus Group exploiting weaknesses in the exchange’s multi-signature security system.

The breach resulted in the theft of over $1.3 billion in Ethereum (ETH) and its variants, revealing critical vulnerabilities even in platforms considered highly secure.

Despite the magnitude of the loss, Bybit responded swiftly, coordinating with industry peers, deploying emergency protocols, and reinforcing its security infrastructure.

This swift action helped stabilize the platform and maintain user confidence. However, the incident triggered widespread concern across the crypto industry, underscoring the need for more robust, adaptive security frameworks to defend against increasingly sophisticated cyberattacks targeting centralized and decentralized systems alike.