⬛On February 21, 2025, the cryptocurrency exchange Bybit suffered the largest hack in the industry’s history. The North Korean group Lazarus stole 401,347 ETH (over $1.5 billion) by exploiting a vulnerability through the “blind signature” mechanism.
⬛The incident triggered a massive outflow of funds — users withdrew $5 billion in a single day. However, Bybit quickly covered its losses through loans and continues to operate normally.
⬛The hack has raised questions about the security of multi-signature wallets, and experts predict that market protection measures will be strengthened.