Earthquake in the world of cryptocurrency, a crazy dictator carried out the biggest crypto theft of Rs 10,943,26,00,000 in history!

The Dubai-based Bybit exchange has confirmed this record-breaking crypto theft. Hackers took control of the Ethereum wallet and stole its entire content. This theft was transferred to an unknown address.

A shocking incident has come to light in the world of cryptocurrency, where an estimated $1.19 billion (about Rs 10,943,26,00,000) has been stolen. This incident is believed to be the biggest crypto theft in history. The needle of suspicion is pointing toward North Korean cyber criminals.

The Dubai-based Bybit exchange has confirmed this record-breaking crypto theft. Hackers took control of the Ethereum wallet and stole its entire content. This theft was transferred to an unknown address.

North Korean group suspected

Blockchain analysis firm Arkham Intelligence has accused North Korea's Lazarus Group of carrying out this hack. The firm reported on social media that their reliable online detectives have provided "definite evidence" that the attackers are from the notorious North Korean hacker group. However, the culprits have not yet been officially confirmed.

Statement by Bybit CEO

After the incident, Bybit CEO Ben Zhou shared a statement on x. He said, "Bybit will not go bankrupt even if the losses of this hacking are not compensated, all our customers' assets are backed 1 to 1, and we can cover the losses." The CEO described the crime as "the worst hack in history."

Responding to customers' withdrawal requests

Zhou reported that his company received more than 350,000 withdrawal requests after the attack. He added, "All withdrawals have been processed." Bybit has reported the crime to the police and is working "swiftly and comprehensively" to find the culprits.

Ethereum's value drops

This $1 billion attack caused Ethereum's value to drop by about four percent on Friday.

History of North Korean hacking

North Korea stole an estimated $800 million worth of crypto in 2024 and an estimated $1.7 billion in 2022. There have been many major crypto attacks before this, in which millions of dollars have been stolen from people's online wallets.

Earlier major crypto thefts

In 2019, £32 million worth of bitcoin was stolen from the Binance exchange.

In 2014, £210 million worth of crypto was stolen from exchange site Mt. Gox.

These incidents show how necessary it is to improve crypto security.