North Korean hacking group Lazarus just started laundering 5,000 ETH from the Bybit $1.5 billion hack, kicking off their typical complex operation to clean the money.

Bybit’s $1.4 billion Ethereum hack has been reportedly linked to the notorious Lazarus group. As expected, this triggered a withdrawal frenzy as investors exited the crypto exchange en masse. In fact, according to Bybit’s founder and CEO Ben Zhou, the exchange saw record withdrawal requests, but they were all handled smoothly.

On-chain sleuthing linked Friday's $1.4 billion hack of crypto exchange Bybit to North Korea's Lazarus Group, Arkham Intelligence said.

The world's second-largest crypto exchange Bybit suffered an exploit Friday that saw it drained of about $1.4 billion worth of ethereum and staked ether.

Bybit lost $1.5 billion in a hack orchestrated by North Korea’s Lazarus Group as Bitcoin Pepe’s presale approaches $3 million.

Bybit has fallen victim today to one of the largest crypto hacks ever recorded, with hackers reportedly stealing over $1.4 billion worth of ETH.

Analysts believe the attack is connected to North Korea's Lazarus Group, a state-sponsored hacking collective infamous for stealing billions from the cryptocurrency sector. Per Ben Zhou, CEO of Bybit,

Bybit confirmed a series of malicious transactions, which redirected $1.46B from its cold wallets to unauthorized addresses.