The Bybit hack represented a new high-water mark for the Lazarus Group, ushering in a dangerous new era for Asia’s digital finance ecosystem
The hack on February 21 represented a quantum leap in the scale and sophistication of cyber operations emanating from North Korea, according to a report released last month by American blockchain analysis firm Chainalysis.
It accounted for nearly 70 per cent of all stolen digital assets globally in the first half of 2025 – laying bare the widening security cracks in Asia’s digital ecosystem and signalling the arrival of a new era of cybercrime that is increasingly targeting victims around the globe, from Bybit’s Dubai headquarters to the United States and beyond.
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