North Korean Hackers Steal $1.5 Billion in Cryptocurrency from Bybit

North Korean hackers have successfully stolen $1.5 billion in cryptocurrencies in a sophisticated attack on the Dubai-based exchange platform Bybit. In February 2025, Bybit revealed the theft of more than 400,000 ethereum and staked ethereum coins, initially stored in a "Multisig Cold Wallet," which were transferred to hot wallets before being moved to wallets controlled by the attackers. The investigation showed that the attack manipulated the logic of smart contracts and masked the signature interface, allowing the attackers to take control of the wallet. This attack highlighted the vulnerabilities of multisigs and cold wallets, underscoring that manipulation of the user interface and social engineering can bypass even the most secure wallets.