US FBI has identified North Korean Lazarus group as the attackers behind the Bybit hack.
The hacker group has been connected to several cryptocurrency scams in the past.
Although the cryptocurrency market is establishing camp at the bearish end of the zone, it remains active. The past day’s highlight was the Solana ETF being listed on DTCC. Another notable factor was Bitcoin’s fall to $84K, which the community members are seeing as an opportunity to ‘buy the dip’.
Meanwhile, the US Federal Bureau of Investigation (FBI) has released a statement alleging the North Korean Lazarus group for the Bybit hack. The hack occurred on February 22 and saw a loss of approximately $1.5 billion worth of digital assets. This cryptocurrency scam is also one of the reasons behind the current bear market.
Furthermore, the FBI has decided to call this ‘North Korean malicious cyber activity’ a “TraderTraitor”. This allegation has caught much of market attention as the hack’s enormity was numerous making it one of the largest incidents in the past year.
Moreover, prominent private investigator ZackXBT initially identified the Lazarus group as being behind the hack. Following this, the FBI’s allegations have paved the way for community members to confirm the attackers.
How Did Bybit Respond to the Lazarus Group Reports?
While the FBI connection arrived only in the past day, Bybit’s CEO Ben Zhou discussed the connection earlier. On February 25, Zhou posted on his X account encouraging community members to contribute to the bounty hunt. He stated that any wallet that helps trace the funds and successful freezing will be rewarded.
In the X post, Ben Zhou stated:
“…we will not stop until Lazarus or bad actors in the industry is eliminated. In the future we will open it up to other victims of Lazarus as well.”
The Lazarus group has been known to have caused several scams in the past. Particularly, in the past year, the DMM Bitcoin hack and Bitcoin L2 developer Alex Lab’s exploits were connected to the hacker group.