Ethereum News: FBI Ties $1.5 Billion Bybit Hack to North Korea’s Lazarus Group

In a significant development in the world of cryptocurrency security, the Federal Bureau of Investigation (FBI) has linked a massive $1.5 billion hack on the Bybit exchange to North Korea’s state-sponsored Lazarus Group. Here’s a closer look at the incident and its implications for the Ethereum ecosystem.

FBI Links $1.5 Billion Bybit Hack to North Korea’s Lazarus Group

The Federal Bureau of Investigation (FBI) has officially attributed a recent $1.5 billion cyberattack on cryptocurrency exchange Bybit to North Korea’s state-sponsored Lazarus Group. The attack occurred on February 21, where hackers infiltrated one of Bybit’s cold wallets and stole over 41,000 ETH. This breach added to a growing list of high-profile cryptocurrency heists orchestrated by North Korean hacking entities. In a joint Cybersecurity Advisory issued by the FBI, the Cybersecurity and Infrastructure Security Agency (CISA), and the US Treasury Department, authorities warned about increasing cyber risks posed by North Korea-backed advanced persistent threat (APT) groups.

Ethereum: Net Inflows Hit 88K – Potential Market Bottom?

Ethereum’s market displayed intriguing dynamics, hinting at a potential recovery. ETH’s volatility over the past month peaked at 81.61% and then dipped to 45.87%. Whales, Smart Money (SM), and Small DEX Traders (SDTs) showed varying levels of buying activity on decentralized exchanges (DEXs). The DEX market on Ethereum revealed a recovery signal, particularly from whales, over 24 hours. Whales’ buy volume reached $9.41 million, surpassing sell volume at $6.17 million, indicating strong accumulation. This positive disparity suggested confidence among major investors.

Crypto Price Analysis February-28: ETH

The market turned bearish and Ethereum has lost its support at $2,400, falling by 21% in the past seven days. It is critical that the price remains above $2,000. If lost, Ethereum will have good support around $1,800. A price under $2,000 would push it into a bear market with lower levels likely after that.

Mask Network Founder Suji Yan Hacked: $4M Stolen and Converted to ETH

Mask Network Founder Suji Yan recently suffered a security breach resulting in the theft of approximately $4 million in assets. The hacker immediately converted the stolen assets into Ethereum (ETH). This incident highlights severe security issues in the crypto market, emphasizing the need for stronger defensive measures.