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Bitcoin Bitcoin (BTC) $118,099.55 ↑ 0.39%
Ethereum Ethereum (ETH) $3,825.99 ↑ 1.58%
XRP XRP (XRP) $3.12 ↓ -0.06%
Tether USDt Tether USDt (USDT) $1.00 ↓ -0.01%
BNB BNB (BNB) $793.92 ↓ -0.93%
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Stellar Stellar (XLM) $0.41 ↓ -2.51%
Chainlink Chainlink (LINK) $17.74 ↓ -0.01%
Bitcoin Cash Bitcoin Cash (BCH) $596.56 ↑ 5.95%
Hedera Hedera (HBAR) $0.26 ↓ -1.85%
Avalanche Avalanche (AVAX) $23.35 ↓ -3.54%
Litecoin Litecoin (LTC) $111.68 ↑ 3.50%
Toncoin Toncoin (TON) $3.44 ↑ 2.06%
UNUS SED LEO UNUS SED LEO (LEO) $8.96 ↑ 0.04%
Ethena USDe Ethena USDe (USDe) $1.00 ↑ 0.04%
Shiba Inu Shiba Inu (SHIB) $0.00 ↓ -0.87%
Uniswap Uniswap (UNI) $10.07 ↓ -1.46%
Polkadot Polkadot (DOT) $3.82 ↓ -1.40%
Monero Monero (XMR) $308.88 ↓ -1.35%
Dai Dai (DAI) $1.00 ↑ 0.04%
Bitget Token Bitget Token (BGB) $4.54 ↑ 0.53%
Pepe Pepe (PEPE) $0.00 ↓ -0.55%
Cronos Cronos (CRO) $0.15 ↑ 3.69%
Aave Aave (AAVE) $275.51 ↓ -1.73%
Ethena Ethena (ENA) $0.61 ↑ 8.73%
Bittensor Bittensor (TAO) $373.99 ↓ -1.20%
NEAR Protocol NEAR Protocol (NEAR) $2.66 ↓ -1.25%
Ethereum Classic Ethereum Classic (ETC) $21.48 ↓ -0.67%
Pi Pi (PI) $0.42 ↓ -1.44%
Aptos Aptos (APT) $4.50 ↓ -1.20%
Ondo Ondo (ONDO) $0.95 ↑ 0.02%
Internet Computer Internet Computer (ICP) $5.48 ↑ 1.22%
OKB OKB (OKB) $48.03 ↓ -0.37%
Mantle Mantle (MNT) $0.75 ↓ -1.34%
Kaspa Kaspa (KAS) $0.09 ↓ -1.16%
Bonk Bonk (BONK) $0.00 ↓ -0.12%
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GateToken GateToken (GT) $17.44 ↓ -0.51%
VeChain VeChain (VET) $0.02 ↓ -1.73%
Render Render (RENDER) $3.90 ↑ 0.92%
Worldcoin Worldcoin (WLD) $1.07 ↓ -0.48%
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Sky Sky (SKY) $0.09 ↑ 1.17%
Sei Sei (SEI) $0.31 ↓ -1.73%
Story Story (IP) $5.95 ↑ 3.18%
Cosmos Cosmos (ATOM) $4.43 ↓ -2.76%
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Flare Flare (FLR) $0.02 ↓ -1.23%
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Jupiter Jupiter (JUP) $0.52 ↓ -2.15%
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Immutable Immutable (IMX) $0.55 ↓ -0.47%
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Lido DAO Lido DAO (LDO) $1.02 ↓ -1.60%
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BitTorrent [New] BitTorrent [New] (BTT) $0.00 ↑ 2.74%
Pyth Network Pyth Network (PYTH) $0.12 ↓ -2.85%
Bitcoin Bitcoin (BTC) $118,099.55 ↑ 0.39%
Ethereum Ethereum (ETH) $3,825.99 ↑ 1.58%
XRP XRP (XRP) $3.12 ↓ -0.06%
Tether USDt Tether USDt (USDT) $1.00 ↓ -0.01%
BNB BNB (BNB) $793.92 ↓ -0.93%
Solana Solana (SOL) $178.54 ↓ -1.06%
USDC USDC (USDC) $1.00 ↑ 0.00%
Dogecoin Dogecoin (DOGE) $0.22 ↓ -0.71%
TRON TRON (TRX) $0.33 ↓ -3.05%
Cardano Cardano (ADA) $0.77 ↓ -1.60%
Hyperliquid Hyperliquid (HYPE) $42.27 ↓ -2.24%
Sui Sui (SUI) $3.78 ↓ -0.24%
Stellar Stellar (XLM) $0.41 ↓ -2.51%
Chainlink Chainlink (LINK) $17.74 ↓ -0.01%
Bitcoin Cash Bitcoin Cash (BCH) $596.56 ↑ 5.95%
Hedera Hedera (HBAR) $0.26 ↓ -1.85%
Avalanche Avalanche (AVAX) $23.35 ↓ -3.54%
Litecoin Litecoin (LTC) $111.68 ↑ 3.50%
Toncoin Toncoin (TON) $3.44 ↑ 2.06%
UNUS SED LEO UNUS SED LEO (LEO) $8.96 ↑ 0.04%
Ethena USDe Ethena USDe (USDe) $1.00 ↑ 0.04%
Shiba Inu Shiba Inu (SHIB) $0.00 ↓ -0.87%
Uniswap Uniswap (UNI) $10.07 ↓ -1.46%
Polkadot Polkadot (DOT) $3.82 ↓ -1.40%
Monero Monero (XMR) $308.88 ↓ -1.35%
Dai Dai (DAI) $1.00 ↑ 0.04%
Bitget Token Bitget Token (BGB) $4.54 ↑ 0.53%
Pepe Pepe (PEPE) $0.00 ↓ -0.55%
Cronos Cronos (CRO) $0.15 ↑ 3.69%
Aave Aave (AAVE) $275.51 ↓ -1.73%
Ethena Ethena (ENA) $0.61 ↑ 8.73%
Bittensor Bittensor (TAO) $373.99 ↓ -1.20%
NEAR Protocol NEAR Protocol (NEAR) $2.66 ↓ -1.25%
Ethereum Classic Ethereum Classic (ETC) $21.48 ↓ -0.67%
Pi Pi (PI) $0.42 ↓ -1.44%
Aptos Aptos (APT) $4.50 ↓ -1.20%
Ondo Ondo (ONDO) $0.95 ↑ 0.02%
Internet Computer Internet Computer (ICP) $5.48 ↑ 1.22%
OKB OKB (OKB) $48.03 ↓ -0.37%
Mantle Mantle (MNT) $0.75 ↓ -1.34%
Kaspa Kaspa (KAS) $0.09 ↓ -1.16%
Bonk Bonk (BONK) $0.00 ↓ -0.12%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.22 ↓ -0.98%
Algorand Algorand (ALGO) $0.26 ↓ -1.45%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↓ -6.81%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↑ 0.01%
Arbitrum Arbitrum (ARB) $0.42 ↓ -1.00%
GateToken GateToken (GT) $17.44 ↓ -0.51%
VeChain VeChain (VET) $0.02 ↓ -1.73%
Render Render (RENDER) $3.90 ↑ 0.92%
Worldcoin Worldcoin (WLD) $1.07 ↓ -0.48%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $9.34 ↓ -0.96%
Sky Sky (SKY) $0.09 ↑ 1.17%
Sei Sei (SEI) $0.31 ↓ -1.73%
Story Story (IP) $5.95 ↑ 3.18%
Cosmos Cosmos (ATOM) $4.43 ↓ -2.76%
Filecoin Filecoin (FIL) $2.50 ↓ -2.19%
SPX6900 SPX6900 (SPX) $1.83 ↓ -7.95%
Flare Flare (FLR) $0.02 ↓ -1.23%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.69 ↓ -2.18%
Jupiter Jupiter (JUP) $0.52 ↓ -2.15%
XDC Network XDC Network (XDC) $0.10 ↓ -3.74%
Four Four (FORM) $3.81 ↑ 0.75%
Quant Quant (QNT) $120.17 ↑ 0.18%
First Digital USD First Digital USD (FDUSD) $1.00 ↓ -0.02%
KuCoin Token KuCoin Token (KCS) $11.35 ↑ 0.43%
Curve DAO Token Curve DAO Token (CRV) $1.03 ↑ 6.89%
Injective Injective (INJ) $13.77 ↓ -1.65%
Stacks Stacks (STX) $0.76 ↓ -2.13%
Celestia Celestia (TIA) $1.79 ↓ -2.29%
Optimism Optimism (OP) $0.71 ↓ -1.36%
Conflux Conflux (CFX) $0.23 ↑ 10.75%
FLOKI FLOKI (FLOKI) $0.00 ↓ -2.11%
Fartcoin Fartcoin (FARTCOIN) $1.06 ↓ -1.54%
The Graph The Graph (GRT) $0.10 ↓ -0.39%
Immutable Immutable (IMX) $0.55 ↓ -0.47%
Ethereum Name Service Ethereum Name Service (ENS) $28.37 ↑ 0.31%
dogwifhat dogwifhat (WIF) $0.97 ↓ -0.45%
Pump.fun Pump.fun (PUMP) $0.00 ↓ -1.85%
PancakeSwap PancakeSwap (CAKE) $2.80 ↓ -1.14%
Kaia Kaia (KAIA) $0.16 ↓ -0.45%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.02%
PAX Gold PAX Gold (PAXG) $3,301.03 ↓ -1.10%
Sonic Sonic (S) $0.32 ↑ 4.84%
Lido DAO Lido DAO (LDO) $1.02 ↓ -1.60%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.35 ↓ -1.66%
Tezos Tezos (XTZ) $0.84 ↓ -0.93%
Nexo Nexo (NEXO) $1.32 ↑ 0.35%
Vaulta Vaulta (A) $0.54 ↓ -0.54%
Theta Network Theta Network (THETA) $0.84 ↓ -1.13%
Tether Gold Tether Gold (XAUt) $3,295.56 ↓ -1.10%
IOTA IOTA (IOTA) $0.20 ↓ -0.40%
Raydium Raydium (RAY) $2.94 ↓ -1.88%
JasmyCoin JasmyCoin (JASMY) $0.02 ↓ -2.33%
Gala Gala (GALA) $0.02 ↓ -1.18%
The Sandbox The Sandbox (SAND) $0.29 ↓ -1.33%
Pendle Pendle (PENDLE) $4.36 ↑ 0.42%
Aerodrome Finance Aerodrome Finance (AERO) $0.82 ↑ 1.10%
BitTorrent [New] BitTorrent [New] (BTT) $0.00 ↑ 2.74%
Pyth Network Pyth Network (PYTH) $0.12 ↓ -2.85%
Home Economy

Bybit Robbed of $1.4 Billion in ETH—But Its Comeback Is Even Wilder

Sami Oliver by Sami Oliver
10 April 2025
in Economy, en, News, World
Reading Time: 8 mins read
0
Bybit Robbed of $1.4 Billion in ETH—But Its Comeback Is Even Wilder

Few events in the crypto market have been as jaw-dropping as the February 2025 hack of Bybit, a Dubai-based crypto exchange. The heist, orchestrated by North Korea’s notorious Lazarus Group, saw a staggering $1.4 billion siphoned off, marking it as one of the largest crypto thefts to date.

Yet, in a twist that reads like a Hollywood comeback story, Bybit has clawed its way back, reclaiming a 7% market share. Let’s dive into this rollercoaster of events.​

Table of Contents

Toggle
    • YOU MAY BE INTERESTED
    • Whale Interest Surges for MoonBull Whitelist – The Top New Meme Coin to Watch as Neiro and Cat in a Dog’s World Drop
    • 3 Top Cryptos in July 2025 Everyone Is Scrambling to Get In With One Whitelist Down to the Wire
  • The Heist Heard ‘Round the World
  • The Aftermath: A Crypto Wild West
  • Bybit’s Road to Redemption
  • The Bigger Picture: Crypto’s Ongoing Security Saga
  • Looking Ahead: Lessons and Precautions
  • Conclusion
    • FAQs
      • 1. What is the Lazarus Group?
      • 2. How did the Bybit hack occur?
      • 3. What role did THORChain play in the aftermath?
      • 4. How did Bybit recover its market share?
      • 5. What lessons can be learned from this incident?
  • Glossary of Key Terms
    • References

YOU MAY BE INTERESTED

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The Heist Heard ‘Round the World

Picture this: It’s February 21, 2025. Bybit, a rising star in the crypto exchange arena, falls victim to a cyberattack that would make even seasoned hackers do a double-take. The culprits? The Lazarus Group is a cybercrime syndicate with ties to North Korea’s regime.

 Their loot? A cool $1.4 billion, primarily in Ethereum (ETH). The method? They exploited a vulnerability in Safe{Wallet}, a multi-sig wallet platform, by injecting malicious JavaScript into its app. This sneaky move allowed them to intercept transactions from Bybit’s cold wallet, which was previously considered Fort Knox-level secure.

The Aftermath: A Crypto Wild West

In the wake of the hack, the crypto landscape resembled a scene from a spaghetti western. The stolen funds began a dizzying dance across blockchains, with the hackers using THORChain—a decentralized cross-chain swap protocol—to launder their ill-gotten gains. Within days, over $605 million worth of ETH had been swapped, primarily into Bitcoin (BTC), making the trail colder than a Canadian winter.

THORChain’s role in this laundering spree didn’t go unnoticed. The protocol saw its swap volume explode past $1 billion in just two days post-hack, raising eyebrows and questions about its use in illicit activities. This surge in activity even led to internal strife, with a core developer stepping down amid the controversy.

Crypto Chaos Strikes as Bybit Faces Ruthless $1.4B Breach

Bybit’s Road to Redemption

But here’s where the plot thickens. Despite this monumental setback, Bybit wasn’t about to throw in the towel. The exchange rolled up its sleeves and got to work, implementing tighter security measures and enhancing liquidity options for its users. And guess what? It paid off. By April 2025, Bybit’s market share had rebounded to its pre-hack levels of over 7%. ​

This resurgence wasn’t just a stroke of luck. It signaled a robust recovery in spot market activity and trading volumes, reflecting renewed trader confidence. As the saying goes, “What doesn’t kill you makes you stronger,” and Bybit seemed to embody this resilience.​

The Bigger Picture: Crypto’s Ongoing Security Saga

Bybit’s ordeal serves as a stark reminder of the vulnerabilities that still plague the crypto industry. Even centralized exchanges with formidable security measures aren’t immune to sophisticated cyberattacks. The Lazarus Group’s involvement underscores the geopolitical dimensions of cybercrime, with stolen funds potentially fueling North Korea’s nuclear ambitions.

Moreover, the incident spotlighted the challenges of regulating decentralized platforms like THORChain, which, while innovative, can inadvertently become conduits for laundering stolen assets. It’s a classic case of technology outpacing regulation, leaving the industry in a perpetual game of cat and mouse.​

Looking Ahead: Lessons and Precautions

So, what’s the takeaway from this crypto caper? For one, the importance of robust security protocols can’t be overstated. Exchanges must continually evolve their defenses to stay a step ahead of bad actors.​

For traders and investors, it’s a wake-up call to exercise due diligence. While the allure of crypto’s Wild West can be tempting, it’s essential to remember that with great reward comes great risk. Staying informed, using reputable platforms, and practicing sound security habits are more crucial than ever.​

In the end, Bybit’s bounce-back story is one of resilience and adaptability. It’s a testament to the crypto community’s ability to weather storms and emerge stronger. But it’s also a cautionary tale, reminding us that in the digital frontier, vigilance is the name of the game.

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Crypto Chaos Strikes as Bybit Faces Ruthless $1.4B Breach

Conclusion

Bybit’s comeback isn’t just a corporate win—it’s a masterclass in crisis management for the entire crypto world. After staring down the barrel of a $1.4 billion hack, the exchange could’ve crumbled. But instead, it dug in, doubled down on security, and won back trust—something that’s hard to do in a space as fast-moving and skeptical as crypto.

Sure, the Lazarus Group made headlines. THORChain got heat. Regulators raised their eyebrows. But at the end of the day, Bybit didn’t just survive—it came back swinging. And in this digital Wild West, where hacks and heists are all too common, that kind of grit matters.

So, if someone is a trader, an investor, or even just crypto-curious, remember this: security isn’t optional, transparency builds trust, and the platforms that adapt fastest tend to stick around. Bybit’s journey proves that even after a punch to the gut, the best players know how to get back on their feet—and come back stronger than ever.

Follow us on Twitter and LinkedIn, and join our Telegram channel for more news.

FAQs

1. What is the Lazarus Group?

The Lazarus Group is a cybercrime organization linked to North Korea, notorious for orchestrating large-scale cyberattacks, including the $1.4 billion hack on Bybit.​

2. How did the Bybit hack occur?

Hackers exploited a vulnerability in Safe{Wallet} by injecting malicious JavaScript, allowing them to intercept transactions from Bybit’s cold wallet.

3. What role did THORChain play in the aftermath?

THORChain was used by the hackers to launder stolen funds by swapping ETH for BTC across different blockchains, complicating tracking efforts.

4. How did Bybit recover its market share?

Bybit implemented enhanced security measures and improved liquidity options, restoring trader confidence and regaining a 7% market share.​

5. What lessons can be learned from this incident?

The importance of robust security protocols for exchanges and the need for traders to practice due diligence in the volatile crypto market.​

Glossary of Key Terms

Ethereum (ETH): A decentralized blockchain featuring smart contract functionality.​

Bitcoin (BTC): The first and most well-known cryptocurrency, often referred to as digital gold.​

THORChain: A decentralized cross-chain liquidity protocol that enables the swapping of assets between different blockchains.

References

AP News

​Cointelegraph

​The Scottish Sun

CryptoPotato

Tags: bybitBybit crypto hackcryptocurrencyThorchain
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