North Korea -related hackers can restore their operations in the second half of 2024 while preparing for what has become the biggest crypto hack in history.
The crypto industry is Stoned by a huge hack In Feb. 21 when bybit Lost more than $ 1.4 billion In the deadly North Korean Lazarus Groupthat seems to have prepared the months of attack early.
According to To blockchain analytics firm chainalysis, the forbidden activity tied to North Korea Cyber actors has strongly denied after July 1, 2024, despite an attack on attacks earlier that year.
Slowing crypto hacks by North Korea agents raised significant red flags, according to Eric Jardine, chainalysis cybercrimes are leading.
Hacking activity in North Korea before and after July 1. Source: Chainalysis
North Korea’s slowdown “began when Russia and DPRK (North Korea) met for their summit that led to a reallocation of North Korea’s resources, including military staff in Ukraine war,” Jardine told Cointelegraph during the Chainreaction Show on March 26, addition:
“So, we thought of the report that there could be additional things invisible in terms of reality of resources from the DPRK, and then you roll in early February, and you have bybit hack.”
– Cointelegraph (@cointelegraph) March 26, 2025
“The slowing down we have examined can be a regrouping to select new targets, investigation infrastructure, or they can be linked to geopolitical events,” he added.
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It took the LAZARUS GROUP 10 DAYS IN LAUNDER 100% of stolen bybit funds by decentralized crosschain protocol thorchain, Cointelegraph reported on March 4.
However, blockchain security experts hope that a portion of the funds can freeze and recover bybit. Up to March 20, more than 80% of the stolen $ 1.4 billion is still monitored as blockchain investigators continue their efforts to freeze and recover funds.
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How hackers present the largest crypto hack in the world
Bybit attack features that even centralized exchanges with strong security measures remain Poor in sophisticated cyberattacksAnalysts said.
Attacking shares similarities to The $ 230 million wazirx hack and the $ 58 million radiant capital hackAccording to Meir Dolev, co-founder and chief technical officer in Cyvers.
Dolev said the Ethereum Multisig Cold Wallet was compromised by a deceptive transaction, which tricks signers to accidentally approve of a malicious change of logic of intelligent contract.
“It allowed the hacker to control the cold purse and move all ETH to an unknown address,” Dolev told Cointelegraph.
Hacking activity in North Korea. Source: chainalysis
Throughout 2024, North Korea hackers steal more than $ 1.34 billion worth of digital assets throughout 47 incidents, an increase of 102% from $ 660 million stolen in 2023, According to in chainalysis data.
It costs 61% of the total crypto stolen in 2024.
https://www.youtube.com/watch?v=ndv0rFehetq
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