Arkham Intelligence said Lazarus Group hacked ByBit for over $1.5 billion on Friday, citing information provided by online sleuth ZachXBT.
"At 19:09 UTC today, ZachXBT submitted definitive proof that this attack on ByBit was performed by the LAZARUS GROUP," Arkham said in a post to X. "His submission included a detailed analysis of test transactions and connected wallets used ahead of the exploit, as well as multiple forensics graphs and timing analyses. The submission has been shared with the ByBit team in support of their investigation."
Earlier in the day ByBit confirmed it had suffered a massive security breach that led to the loss of over $1.5 billion in crypto assets. The company's co-founder and CEO Ben Zhao later said that all client withdrawals will be processed, even if they are under review."
The hack is being considered the largest single theft in crypto's history.
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