Bybit’s $1.4B Hack: $380M in Crypto Goes Dark as Lazarus Group Strikes

In a shocking cybersecurity breach, cryptocurrency exchange Bybit was hacked for a staggering $1.4 billion by the notorious North Korean Lazarus Group. According to Bybit’s CEO Ben Zhou, approximately 27.95% of the stolen funds, worth over $380 million, have gone dark or become untraceable. These funds were funneled through crypto mixers like Wasabi, Railgun, and Tornado Cash before being transferred via bridges to peer-to-peer (P2P) and over-the-counter (OTC) platforms. While 68.57% of the stolen assets remain traceable, only 3.84% have been frozen, leaving a significant portion of the funds in limbo. This incident underscores the growing sophistication of cybercriminals and the urgent need for enhanced security measures in the crypto space.

Over $380M Worth of Crypto Stolen in Bybit’s $1.4B Hack Has Gone Dark

Cryptocurrency exchange Bybit was hacked for $1.4 billion by the North Korean Lazarus Group. According to Bybit’s CEO Ben Zhou, 27.95% of the stolen funds have gone dark or become untraceable. The untraceable funds flowed into crypto mixers like Wasabi, Railgun, and Tornado Cash before being transferred through bridges to P2P and OTC platforms. Approximately 68.57% of the funds remain traceable, while 3.84% have been frozen.

MetaMask Launches Crypto Payments Card Backed by Mastercard

MetaMask is making a bold move into the crypto payments space with a new self-custody card powered by Mastercard. Developed in partnership with CompoSecure and Baanx, the metal payment card allows users to spend directly from their MetaMask wallets, bypassing centralized exchanges.

The card leverages Linea, an Ethereum layer-2 solution, enabling real-world transactions in under five seconds through smart contracts. This innovation arrives amid growing security concerns following February’s $1.4 billion Bybit hack, positioning MetaMask as a safer alternative for crypto transactions.