Bybit News: North Korea’s Evolving Crypto Hacking Tactics Raise Concerns After Bybit-Related Hack

Recent developments in the cryptocurrency space have highlighted a concerning shift in North Korea’s hacking tactics, with a major exchange being indirectly affected. Here’s what you need to know.

Researcher Warns of North Korea’s Changing Crypto Tactics

Paradigm security researcher Samczsun has raised concerns that North Korea’s cyber operations extend beyond the Lazarus Group. These warnings come after the recent Bybit hack, which involved a sophisticated compromise of SafeWallet infrastructure. Instead of directly targeting Bybit, the hackers managed to breach SafeWallet, marking a departure from previous North Korean hacking incidents. This shift highlights the growing sophistication of their strategies and raises significant concerns about the broader cryptocurrency ecosystem’s security. North Korean-backed cybercrime isn’t just the work of a single group but a network of state-sponsored threat actors.

Bybit to Discontinue NFT, Inscription, and IDO Platforms by April 8, 2025

Bybit, a major cryptocurrency exchange, has announced that it will shut down its NFT, Inscription, and IDO marketplaces by April 8, 2025. The decision comes amid a decline in Bybit’s NFT trading volume and a loss from a hacking incident, leading to major changes in its crypto offerings and services. This strategic change aims to streamline Bybit’s operations and feature simpler product lines. The exchange will also stop offering Initial Decentralized Exchange Offering (IDO) products, following similar choices made by other major platforms due to recent developments in the NFT market.