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![cas_abbe Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1242073759735058432.png) Cas Abbé [@cas_abbe](/creator/twitter/cas_abbe) on x 99.5K followers
Created: 2025-02-22 06:08:19 UTC

The biggest crypto hack in history happened yesterday.

North Korean hacker group Lazarus hacked Bybit for $XXXX billion worth of ETH.

It all started when Bybit was conducting regular weekly transactions to its warm wallet.

This hack was quite similar to the WazirX hack that happened last year.

Soon after, the hackers started dumping ETH, which caused price suppression.

The good news is that the Bybit CEO stated they are solvent and can repay their customers.

So far, the hackers have distributed the assets across XX different addresses to dump them.

Given that these addresses are on the watchlist of every major blockchain firm, I expect they won't dump it all at once.

On the other hand, Bybit could buy $ETH off the spot markets to refill its reserve.


XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1893181003671441536/c:line.svg)

**Related Topics**
[bybit](/topic/bybit)
[north korean](/topic/north-korean)
[happened](/topic/happened)
[hack](/topic/hack)
[ethereum](/topic/ethereum)
[coins layer 1](/topic/coins-layer-1)

[Post Link](https://x.com/cas_abbe/status/1893181003671441536)