hacking

ZachXBT Warns: "Crypto Laundering Is Out of Control, and the Industry Is on Thin Ice!"
Renowned blockchain detective ZachXBT has exposed alarming practices in the crypto world, where pseudo-decentralized protocols not only facilitate money laundering but also profit from it.
On March 18, the investigator issued a scathing critique of certain crypto platforms that benefit from illicit transactions, particularly those linked to North Korea. This shocking revelation follows the massive Bybit hack, where cybercriminals stole $1.46 billion.
🔥 Crypto Industry Playing with Fire: “We’re Turning a Blind Eye, but This Could Destroy Us!”
According to ZachXBT, some "decentralized" protocols generate nearly all of their monthly volume and profits from illicit transactions, primarily related to laundering money for North Korean hackers. Instead of taking responsibility, they look the other way.
Among the suspect services are mixing service eXch and the multi-chain protocol THORChain, which allowed stolen Bybit funds to be funneled through their platforms, helping to launder over $200 million.
📉 Bybit CEO Ben Zhou previously stated that these funds are now untraceable—thanks to crypto protocols that refuse to cooperate and block illicit transactions.

🛑 Centralized Exchanges Under Fire: Reacting Too Late While Hackers Launder Millions in Minutes!
ZachXBT also called out centralized exchanges, stating that some take hours to respond to illicit funds moving through their platforms, while laundering takes mere minutes.
💰 "KYC regulations have become nothing more than a honeypot for everyday users," he criticized. Retail investors are subjected to strict compliance, while hackers bypass these measures effortlessly.

$1.46 Billion Vanished! How Hackers Compromised Bybit
February saw one of the largest crypto hacks in history, as North Korean cybercriminals targeted Bybit, one of the world’s largest crypto exchanges.
How did it happen?
🕵️‍♂️ Hackers compromised a computer belonging to an employee at Safe, a technology provider for Bybit’s infrastructure. This allowed them to redirect an astonishing $1.46 billion into untraceable money flows, where the funds were laundered and hidden.

What’s Next? Stricter Regulations or a Crisis of Trust in Crypto?
ZachXBT warns that if security measures aren’t tightened, the crypto industry could face severe regulation, which could drastically reshape the entire sector.
💬 “If we don’t clean up our act, governments will do it for us—and that will be extremely painful for cryptocurrencies,” the investigator concludes.

#crypto , #hacking , #bybit , #defi , #CyberSecurity

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

This is Lazarus
They just stole $1.46 billion from #bybit
And they didn’t break the code — they broke the people
Here’s untold story of how they did it (and why no one is truly safe) 👇

1/10
Lazarus is a state-backed North Korean #hacking group
They’ve stolen billions from banks, crypto exchanges, and DeFi protocols
And now, they’ve pulled off the biggest #crypto heist in history
But how? Well...

2/10
There was no code exploit.
No leaked private keys.
Bybit’s own multisig signers approved the transactions.
They thought they were signing a routine transfer.
Instead, they were handing over their entire cold wallet...

3/10
But that raises a terrifying question.
How did Lazarus know exactly who to target?
A multisig wallet requires multiple signers.
If even one refused to sign, the hack would fail.
But they all signed.
That means Lazarus didn’t just hack Bybit…
They knew who to manipulate
4/10
There are only a few ways to get that kind of information.
• Inside job – Someone leaked the signer list.
• Social engineering – Lazarus studied their emails & behavior.
• Device compromise – One or more signers were infected with malware.
This means other exchanges are at risk too...

5/10
Today Lazarus stole 0.42% of all #Ethereum
It means they own
More than the Ethereum Foundation.
More than Vitalik Buterin.
And more than Fidelity.
But laundering that much ETH without detection isn’t easy...

6/10
In previous attacks, Lazarus has used:
• Bridging to other #blockchain
• On-chain mixing services
• OTC trading via illicit brokers
Would they try the same tactics again?

7/10
Investigators quickly flagged the 53 wallets holding the stolen ETH.
Any attempt to cash out or swap funds would immediately raise red flags.
But Lazarus are in no hurry...

8/10
In 2022, Chainalysis found Lazarus still held $55M from hacks six years earlier.
They don’t cash out fast. They wait.
And no one has ever gotten their money back.
Not once.
Lazarus doesn’t negotiate. They don’t return funds.
So what happens to users?

9/10
Bybit’s CEO, Ben Zhou, addressed the crisis publicly:
• “Client funds are 1:1 backed.”
• “We have enough liquidity to cover withdrawals.”
• “All other wallets remain secure.”
So far, no bank run...

10/10
But this isn’t the first time this happened
And it won’t be the last.
So how do you stay safe? Follow these simple steps:

Lazarus Launders $300 Million, 20% of Stolen Funds Disappear
The North Korean Lazarus hacking group has successfully laundered $300 million from its record-breaking $1.5 billion crypto heist on ByBit, according to blockchain analytics firm Elliptic.
Despite global efforts to track and freeze the stolen assets, at least 20% of the funds have now disappeared. Cybersecurity experts warn that these laundered funds are likely being used to finance North Korea’s nuclear and military programs.
🗣️ “For hackers trying to erase their money trail, every minute counts. They are highly sophisticated and know exactly how to bypass security measures,” said Tom Robinson, co-founder of Elliptic.

How Did Lazarus Steal the Funds from ByBit?
The ByBit hack occurred on February 21, when the Lazarus group infiltrated one of the exchange’s vendors. They secretly altered the recipient address for a massive 401,000 ETH transfer, effectively redirecting the funds into their own wallets instead of ByBit’s intended account.

The hackers exploited a security vulnerability before the exchange even realized what had happened. ByBit CEO Ben Zhou confirmed that customer funds were not affected, but the company had to replace the stolen assets through investor loans.
🗣️ “We are waging a war against Lazarus,” said Zhou, announcing a bounty program that rewards individuals who help track and freeze the stolen crypto.
So far, 20 people have received a total of $4 million for assisting in the recovery of $40 million. ByBit’s strategy relies on the transparency of blockchain transactions, allowing investigators to trace stolen assets. However, Lazarus remains one of the most skilled groups in laundering digital funds.
Crypto Exchanges Helping Lazarus Cash Out?
While ByBit and other exchanges are actively freezing stolen funds, not all crypto platforms are cooperating. One exchange, eXch, has been accused of allowing Lazarus to cash out over $90 million.
ByBit and other firms have criticized eXch’s owner, Johann Roberts, for not acting quickly enough to block the hackers. However, Roberts denies any wrongdoing, admitting that eXch initially failed to freeze the funds, but claiming his company was in a long-standing dispute with ByBit and was unaware the assets came from a hack.
🗣️ “We are now cooperating with authorities,” Roberts stated, while also criticizing increased regulatory pressure, arguing that it threatens privacy and anonymity in the crypto space.
North Korea Uses Crypto Heists to Fund Its Regime
The U.S. and its allies have accused North Korea of dozens of crypto-related cyberattacks, which help the sanctioned country evade restrictions and finance its struggling economy.
Lazarus initially targeted banks, but over the last five years, cryptocurrency exchanges have become their primary focus. According to Dr. Dorit Dor, a cybersecurity expert from Check Point Research, North Korea has perfected the art of cybercrime.
🗣️ “North Korea operates as a closed economy, so they have developed a highly efficient hacking and money-laundering industry. They don’t care about reputational damage from cybercrime,” Dor explained.
Lazarus’ Biggest Crypto Heists: ByBit Is Just the Latest
The ByBit hack is Lazarus’ biggest success to date, but it’s far from their only major attack. Their most infamous hacks include:

UpBit (2019) – $41 millionKuCoin (2020) – $275 million (most recovered)Ronin Bridge (2022) – $600 millionAtomic Wallet (2023) – $100 million

U.S. Places Lazarus on Cyber Most Wanted List
The U.S. government has designated Lazarus members as Cyber Most Wanted criminals, but the chances of an arrest remain slim unless they leave North Korea.
Despite international sanctions and global law enforcement tracking their activities, Lazarus continues to execute some of the world’s largest financial heists – and profit from them.
📉 Can international regulations stop crypto exchange hacks, or will Lazarus remain untouchable? Share your thoughts! 👇

#LazarusGroup , #HackerAlert , #BybitHack , #CryptoSecurity , #hacking

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Ransomware Attacks Surge, but Payouts Decline
Despite a significant rise in ransomware attacks in 2024, the total ransom payments from victims dropped by 35%, as more companies and individuals refused to comply with hackers' demands.
According to the Chainalysis Cybercrime Report, ransomware generated less revenue compared to the previous year, even though hacker activity intensified.
Declining Payouts Despite Increasing Attacks
🔹 Total ransomware payments in 2024 reached $813 million, down from a record $1.25 billion in 2023.
🔹 The first half of the year saw a 2.3% increase in successful extortion attempts.
🔹 The Dark Angels Group alone collected $75 million.
🔹 However, in the second half of the year, law enforcement efforts significantly disrupted ransomware operations.
Law Enforcement Crackdowns Disrupt Cybercrime Operations
🔹 Enhanced investigative techniques, sanctions, and asset seizures severely impacted cybercriminal networks.
🔹 The shutdown of the Russian crypto exchange Cryptex and Germany's crackdown on 47 Russian platforms weakened ransomware-related money laundering.
According to Jacqueline Burns Koven, Head of Cyber Threat Intelligence at Chainalysis, criminals became more cautious when moving funds through centralized exchanges (CEX). However, non-KYC platforms remain the preferred method for converting stolen crypto into fiat.

Ransomware Victims Increasingly Refuse to Pay
🔹 Less than 50% of ransomware attacks resulted in payouts.
🔹 Those who did comply paid up to $250,000 in ransom on average.
🔹 With improved tracking tools and stronger investigations, more victims chose not to pay, despite the growing frequency of attacks.
Cybercriminals Adapt to Heightened Security Measures
🔹 Hackers are evolving, developing new tactics to bypass security defenses and pressure victims into paying.
🔹 New ransomware variants are emerging, often derived from leaked, rebranded, or purchased code.
🔹 Attacks are now executed faster, with ransom negotiations starting within hours of data exfiltration.
Ransomware operations now range from state-sponsored hackers to ransomware-as-a-service (RaaS) groups and independent cybercriminals. One of the most notable recent cases was the data theft from cloud service provider Snowflake.
While ransomware tactics continue to evolve, enhanced cybersecurity efforts and law enforcement actions are making it harder for cybercriminals to profit. 🚨

#CyberSecurity , #hacking , #cryptohacks , #cybercrime , #CryptoNewss

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Skip Bayless Becomes a Victim of Crypto Scammers
American sports commentator and television personality Skip Bayless became the latest target of crypto scammers who hacked his account on the X platform. The attackers used his account to promote the SKIP token, which operates on the Solana blockchain.
Hacker Uses Bayless's Account for Political and Crypto Promotion
After taking control of the account, the hacker began posting politically charged messages supporting presidential candidate Donald Trump, while also promoting the SKIP token with slogans like “Make Crypto Great Again” and “Crypto Cities Will Thrive with Trump.”
Hacker Sells Tokens Immediately After Posting on Bayless's Account
According to data from DEX Screener, the hacker started selling tokens immediately after posting a cartoon image on Bayless's account, showing the Solana logo alongside the SKIP contract address. Despite these efforts, the hacker only made around $8,200. The token briefly reached a market cap of $69,000 on the Raydium platform but then quickly dropped by over 94% to around $4,100.
Hacker Targets Kamala Harris and LeBron James
The hacker also used the account to post derogatory comments aimed at Vice President Kamala Harris and basketball star LeBron James. These posts are still visible to Bayless’s 3.2 million followers.
Bayless Joins the List of Celebrities Exploited for Crypto Scams
Skip Bayless is not the first celebrity whose account was exploited for similar scams this year. On November 4, rapper Wiz Khalifa’s account was hacked to promote the WIZ token, which saw a temporary price surge of over 2,000% before crashing.
In June, rapper 50 Cent’s account was similarly hijacked to promote the GUNIT token, allowing the attackers to gain over $300 million in just 30 minutes. That same month, hackers targeted Metallica’s account, falsely claiming a partnership with MoonPay and promoting an unrelated token, METAL.

#Cryptoscam , #cybersecurity , #HackerAlert , #cryptofraud , #hacking

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“