On February 21, 2025, the cryptocurrency exchange Bybit experienced an unprecedented cyberattack, with the theft of 1.5 billion dollars in Ether (ETH).
This event has shaken the crypto sector, once again highlighting the vulnerabilities of digital security. Investigations suggest the involvement of the Lazarus group, known for its cybercrime operations linked to North Korea.
How did the attack on the Bybit exchange occur?
The hackers have targeted one of Bybit’s most secure assets: the cold wallet, designed to protect funds offline.
However, through sophisticated phishing attacks, the malicious actors have compromised the transaction signers, leading them to sign fraudulent operations. This method, known as “social engineering”, exploits human error rather than flaws in computer systems.
The attack demonstrates that, despite the use of wallet offline, security remains vulnerable if access protocols are not adequately protected.
The hackers were able to
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