HotNews No 111 North Korean Hackers Launder $300 Million Stolen in the Largest Crypto Heist

The North Korean hacker group “Lazarus” has carried out one of the biggest cyber-attacks in cryptocurrency history, stealing $1.5 billion from the Bybit exchange. According to investigations, at least $300 million has already been cashed out, while authorities are working to prevent the hackers from fully erasing the remaining funds.
How Was the Heist Carried Out?
The attack on Bybit occurred two weeks ago and involved a sophisticated breach of the exchange’s infrastructure. North Korean hackers, known for their highly advanced money laundering techniques, use complex automated systems to erase transaction traces and move stolen funds through a web of crypto wallets and platforms.
Analysts at blockchain forensics firm Elliptic confirmed that the hackers worked in shifts, non-stop, to convert the stolen cryptocurrency into cash as quickly as possible. Meanwhile, investigators managed to block some transactions, but estimates suggest that 20% of the stolen funds are already permanently lost.
What Is the Purpose of the Attack?
Western intelligence agencies have long warned that North Korea uses cyber thefts to finance its military and nuclear programs. By hacking crypto exchanges, the heavily sanctioned regime secures much-needed foreign currency while bypassing international financial restrictions.
“Imagine an entire room full of experts working in shifts, using state-of-the-art money laundering tools. North Korea is undoubtedly the leader in this type of crime,” said Tom Robinson, co-founder of Elliptic.
What’s Next?
There are currently no official reports on whether any criminal charges have been filed against individuals behind this attack. However, given the scale of the heist, U.S. and international agencies are expected to accelerate their investigations and attempt to trace the stolen funds.
For all affected investors, the key advice remains the same—preserve all records of transactions and communications with the platform, as this documentation will be essential in any future efforts to recover lost funds.

Your DefendMe Team