Bybit Hacked: $1.5B Loss Tied to Lazarus?

In January 2025, crypto exchange Bybit suffered a massive cyberattack, reportedly losing $1.5B in assets. Some sources point to North Korean Lazarus Group as the culprit. Investigations are ongoing, with international specialists assisting.

Bybit’s management acknowledged the breach and pledged partial reimbursements via insurance reserves. However, the exchange faced a severe fund exodus, prompting emergency loans from Bitget and Binance to avert a liquidity crisis.

Despite the incident, Bybit says it has heightened cybersecurity measures and remains operational. Experts suspect broader political motives behind the hack, given Lazarus’s track record in similar attacks.