On Friday, a social engineering attack resulted in the theft of $1.46 billion worth of Ethereum, making it the largest crypto theft in history. The stolen funds are being moved through anonymous exchanges and converted to Bitcoin, making it difficult to trace and recover the assets. Elliptic and Arkham Intelligence have linked the attack to North Korea's Lazarus Group, noting their use of decentralized exchanges and other services to throw off investigators. The attackers have been distributing the stolen assets across 50 different wallets and converting them to Bitcoin. Bybit, the exchange targeted in the attack, is now facing pressure from user withdrawals, with roughly 23,000 BTC being pulled from their hot wallet. Bybit has seen outflows totaling $6 billion across various cryptocurrencies. Elliptic has pointed to anonymous exchange eXch as having processed stolen assets from the hack. In an email response, eXch denied the allegations and claimed that they would donate the funds to privacy and security initiatives.



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