North Korea's notorious Lazarus Group is believed to be behind the massive $1.4 billion hack on Bybit, according to ZachXBT's investigation.¹ This cyberattack is considered the largest crypto exchange hack in history, with over $1.46 billion in Ether (ETH) and other ERC-20 tokens stolen.²

The Lazarus Group, allegedly run by the North Korean government, has a history of conducting sophisticated cyberattacks, including the 2014 hack on Sony Pictures and several bank heists worldwide.³ Their methods are highly advanced, and they're known to use social engineering tactics to manipulate their targets.

Bybit's CEO, Ben Zhou, has confirmed the breach, stating that the hackers altered the smart contract logic to drain funds from the exchange's multisignature wallet.⁴ Zhou assured users that all other cold wallets are secure and that withdrawals are proceeding normally.

The investigation is ongoing, with ZachXBT's findings being shared with Bybit to aid in tracking the stolen funds.