Bybit News: North Korean Hackers Steal $1.4 Billion from Bybit, Laundering Funds Through THORChain

In a major security breach, North Korean hackers have stolen a staggering amount of Ethereum from the popular cryptocurrency exchange Bybit. A significant portion of these stolen funds was subsequently laundered through decentralized platforms, with THORChain being a prominent choice for the hackers. This incident has raised serious concerns about the security of centralized exchanges and the need for better anti-money laundering measures in the cryptocurrency space.

Will This Proposal Block Crypto Laundering On THORChain After Bybit Hack?

In 2024, rug pulls and DeFi exploits dominated headlines. In February 2025, North Korean hackers stole 500,000 ETH worth over $1.4 billion from Bybit. A significant portion of the stolen funds was laundered through decentralized platforms, with THORChain emerging as the hackers’ favorite. This heist is one of the largest in crypto history, raising concerns about the robustness of centralized exchanges.

Bybit $1.5 Billion Hack Impacts Staking Industry

The largest crypto hack in history, a $1.5 billion theft from Bybit, has heightened industry awareness of cyber threats. Over 401,000 ETH were stolen by North Korea’s Lazarus Group. Bybit has re-established 1:1 asset backing for clients but the incident may drive staking participants towards self-custody due to centralized exchange (CEX) security concerns.