The North Korean hacker may have reduced its operation in the second half of 2024, preparing for the largest encryption hacking in history.
The cryptocurrency was shaken by a tremendous hack when BYBIT lost more than $ 1.4 billion in the group with the infamous North Korean screw on February 21.
According to the Blockchain Analytics’ chain chain analysis, illegal activities related to North Korean cyber actors have declined sharply despite the early that year.
According to Eric Jardine, head of chain analysis cyber crime research, North Korean agents’ encryption hacking slowed down a significant red flag.
North Korea hacking activities around July 1. Source: Chain analysis
Jardine added to Cointelegrap in the March 26th Chain -reaction Show:
“So we guess that we would not have been seen in terms of resource recycling of DPRK in the report, and then advanced in early February, there is BYBIT HACK.”
https://t.co/jolqmt4hag
-COINTELEGRAPH (@coingraph) March 26, 2025
“The slowdown we observed could be related to new goals, probe infrastructure, or related to these designated incidents.”
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Cointelegraph took 10 days to wash 100%of the stolen funds through the cross chain protocol Thorchain, which was distributed on March 4.
Nevertheless, blockchain security experts hoped that some of the funds could be frozen and recovered by BYBIT. As of March 20, more than 80% of the $ 1.4 billion, which were stolen, were still tracked, while blockchain investigators continued to freeze and recover funds.
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How hackers started hacking the largest password in the world
The BYBIT attack says that even centralized exchanges with strong security measures are vulnerable to sophisticated cyber attacks.
According to Meir Dolev, co -founder and chief technical officer of CYVERS, this attack shares similarity with $ 2.3 million hacking and $ 55 million of Radiant Capital Hack.
Dolev said that the Ethereum Multisig Cold Wallet was damaged through a deal, so that the signer was unconsciously deceived to approve the logic of malicious smart contracts.
Dolev told Cointelewraph, “This has allowed hackers to control cold wallets and move all ETH to unknown addresses.
North Korea hacking activities. Source: chain analysis
According to the chain analysis data, in 2024, North Korean hackers stole more than $ 13.4 billion in 47 cases, and increased 102% from $ 660 million in 2023.
This accounted for 61%of the stolen total encryption in 2024.
https://www.youtube.com/watch?v=ndv0rfehetq
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