Addresses associated with the Bybit hacker have been spotted using decentralized exchanges (DEXs) to trade cryptocurrencies into Dai, a stablecoin that lacks a freeze function. Recent blockchain records reveal that a wallet receiving some of the Ether (ETH) stolen in the $1.

The Dubai-based platform Bybit said an attacker gained control of an Ethereum wallet and transferred its holdings to an unknown address.

British blockchain analytics firm Elliptic, which traced the stolen crypto, said North Korea's Lazarus Group was behind the hack. Lookonchain, another analytics firm, said Bybit secured around 446,870 ETH (~$1.23B) since the hack through loans, whale deposits, and purchases.

Cryptocurrency exchange Bybit successfully covered its $1.46 billion loss from a recent hacker attack through a combination of loans, whale

Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

Bybit’s $1.4 billion hack, the largest in crypto history, might have unexpected implications for Ethereum. As the exchange moves to recover, could this be a bullish catalyst for ETH? Ether has time and time again failed to reach the new high’s the market has longed for after a new crypto-friendly administration under President Trump,

Bybit Faces Unprecedented Industry Response A major cryptocurrency exchange, Bybit, has suffered a massive security breach, leading to the theft of approximately $1.5 billion worth of Ethereum. The incident took place late Friday evening when hackers exploited a routine transfer of funds from a secure offline wallet to a daily-use wallet.

Prominent cryptocurrency exchange Bybit was hacked for over $1.4 billion in what is being touted as the biggest heist in the industry’s history, and experts suggest the stolen funds are likely to be laundered through mixers and cross-chain bridges.