Bybit Alert: North Korean Hackers Exploit NFT Projects for $1 Million in Sophisticated Cyber Heist

In a startling development, North Korean-linked hackers have successfully infiltrated several Web3 projects, including NFT collections associated with Pepe creator Matt Furie, siphoning off nearly $1 million. The attackers employed sophisticated tactics, posing as IT staff to gain insider access and exploiting vulnerabilities in minting systems. This breach led to a flood of NFTs in the market, subsequently crashing floor prices. On-chain analyst ZackXBT has identified compromised projects such as Favrr, Replicandy, and ChainSaw. This incident underscores the growing risks in the NFT space and the need for enhanced security measures. As the crypto community reels from this exploit, platforms like Bybit are urged to remain vigilant against such threats.

North Korean Hackers Drain $1 Million from Web3 Projects in Sophisticated NFT Exploit

North Korean-linked hackers have infiltrated multiple NFT projects, including collections associated with Pepe creator Matt Furie, stealing nearly $1 million. The attackers posed as IT staff to gain insider access, exploiting vulnerabilities in minting systems to flood markets and crash floor prices.

On-chain analyst ZackXBT identified compromised projects like Favrr, Replicandy, and ChainSaw. The breach followed a familiar pattern: contract ownership transfers to suspicious addresses, followed by mass minting and dumping of NFTs. In the Replicandy exploit alone, the floor price collapsed after the attacker's address 0x9Fca withdrew mint proceeds and resumed unrestricted minting.

These incidents reveal systemic security flaws in Web3 access controls. Notably, North Korean groups now account for 70% of crypto thefts in 2025, including the massive $1.5 billion Bybit hack earlier this year. The attacks demonstrate growing sophistication in social engineering tactics targeting digital asset projects.

Bitcoin Bulls Dominate Bybit as Taker Buy/Sell Ratio Hits 11.5

Bitcoin faces a critical juncture as price action tightens between the $112,000 all-time high and the $105,000 support level. Bulls are pushing for a breakout into uncharted territory, while bears aim to trigger a deeper correction. Market volatility has spiked, yet neither side has gained decisive control, leaving traders in a state of suspended anticipation.

Bybit's taker buy/sell ratio for Bitcoin has surged to an extreme 11.5, signaling overwhelming long positioning. Such one-sided aggression often precedes violent reversals—what fuels bullish conviction today may become tomorrow's liquidity trap. Liquidity pools cluster at both key technical levels, suggesting an imminent volatility expansion.

The 9% weekly gain reflects growing breakout optimism, but the market's capacity to absorb this concentrated long exposure remains untested. Traders await either confirmation of strength above $112K or failure at $105K to determine Bitcoin's next directional move.