$1.5 Billion Crypto Heist: North Korea's audacious theft

Dubai-based exchange Bybit suffered the largest-ever cryptocurrency heist, losing $1.5 billion in over 400,000 Ethereum and staked Ethereum. Hackers exploited a vulnerability in a 'multisig cold wallet,' transferring the cryptocurrency to a hot wallet and then to wallets under their control. Blockchain analysis firm Elliptic and others linked the attack to North Korean threat actors, consistent with their history of using cryptocurrency theft to fund weapons programs. The incident highlights the vulnerability of even multisig cold wallets, underscoring the ongoing need for enhanced cryptocurrency security.
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