Bybit Under Siege: North Korea’s $2.84B Crypto Heist and the Global Response

In a dramatic escalation of cyber warfare, North Korean hackers have orchestrated one of the largest cryptocurrency heists in history, stealing a staggering $2.84 billion from digital asset platforms since January 2024. The attack reached unprecedented levels in 2025, with $1.65 billion stolen in just the first nine months of the year. Bybit exchange has emerged as a primary target in this sophisticated operation, highlighting the vulnerability of major cryptocurrency platforms to state-sponsored cyber attacks. Pyongyang's cyberwarfare division has deployed between 1,000 and 1,500 covert IT operatives across China, with alarming plans to expand this force to 40,000 personnel in Russia. This massive expansion signals North Korea's commitment to using cryptocurrency theft as a primary means of funding its operations and circumventing international sanctions. The scale and sophistication of these attacks demonstrate how state actors are increasingly targeting the cryptocurrency ecosystem, leveraging advanced techniques to exploit security vulnerabilities. Despite the grim statistics, there is a silver lining as recent recoveries of stolen funds indicate improved security measures and international cooperation are beginning to yield results. The global cryptocurrency community faces an urgent challenge in strengthening defenses against these well-organized, state-backed threats while maintaining the decentralized principles that make digital assets valuable. This situation underscores the critical need for enhanced security protocols across all cryptocurrency exchanges and the importance of continued collaboration between private sector platforms and government agencies to combat this growing threat to the digital finance ecosystem.

Global Crackdown Intensifies Against North Korea's $2.84B Crypto Heist

North Korean hackers have siphoned $2.84 billion from cryptocurrency platforms since January 2024, with $1.65 billion stolen in the first nine months of 2025 alone. Pyongyang’s cyberwarfare division now deploys 1,000-1,500 covert IT operatives across China, with plans to expand this force to 40,000 in Russia.

The Bybit exchange emerged as a prime target, though recent recoveries of stolen funds demonstrate improved blockchain forensics. In August, U.S. sanctions against North Korean IT networks marked a strategic shift in combating these attacks.

Chainalysis reports show Western entities are accelerating defensive capabilities, but the regime’s evolving tactics—including AI-enhanced social engineering—pose persistent threats to exchanges and DeFi protocols.

Bybit EU Launches Rewards Service to Democratize Crypto Investment in Europe

Bybit EU has rolled out its Rewards service, a fixed-term yield product targeting European investors seeking passive income opportunities. The offering, which supports Bitcoin (BTC), ethereum (ETH), and USDC, operates under a locked-asset model with predetermined returns.

Six months after securing its MiCA license from Austria's FMA, the exchange is leveraging regulatory credibility to attract newcomers. The service emphasizes simplicity—catering to beginners who want exposure to crypto yields without technical complexity.

Transparency and fund security are central to the proposition, with MiCA compliance serving as a key differentiator. This MOVE signals Bybit's strategic push to capture market share in Europe's evolving crypto landscape.