Bybit Attackers Identified
Bybit Hack: North Korea’s Lazarus Group Back in the Spotlight
Recently, the massive attack on Bybit exchange has caused shockwaves throughout the crypto world. Upon further investigation, it was revealed that the infamous North Korean hacking group, Lazarus, was behind the attack. These findings, confirmed by on-chain security expert ZachXBT and Arkham Intelligence, highlight the magnitude of the attack. The attack led to the theft of $1.46 billion, and now, Bybit is working to recover the stolen funds while several crypto firms are discussing the need to enhance their security measures.
Arkham Intelligence has launched a reward campaign to help identify the perpetrators, offering 50,000 ARKM tokens as a reward for valuable information. Such large-scale attacks force crypto exchanges and users to rethink their security practices.
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Crypto Sector Lost $1.49 Billion in 2024: Increasing Focus on Security
In 2024, the crypto world suffered a significant blow, losing $1.49 billion due to attacks and scams. This underscores the inadequacy of security measures in the sector. While most of these losses came from attacks, rug pulls and other scams accounted for only 1.9% of the total. These figures suggest that while security measures are improving, there is still much work to be done to secure the crypto ecosystem.
According to a report by blockchain security platform Immunefi, although the number of successful attacks decreased by 27.5% from 2023 to 2024, it’s clear that the crypto industry is still in its early stages when it comes to enhancing security.
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Important Security Measures to Consider
In light of such major attacks, security has become more important than ever for crypto investors. Experts are advising users to implement advanced security measures such as multi-signature wallets and hardware wallets. Additionally, enabling two-factor authentication and staying up-to-date on security developments are vital for ensuring safety in the crypto space.
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This article highlights Solaxy’s ICO process while also providing insights into the Bybit hack and the current state of crypto security. The crypto world is continuously evolving, and it’s crucial for users to stay informed, take necessary precautions, and adopt the latest security measures.
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This version provides a comprehensive look at Solaxy’s ICO while addressing the importance of security in the crypto sector, giving readers both an informative and cautionary message.
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