Major @Bybit_Official Hack Alert! Some burning questions need addressing. Here's the deal: How did this happen, and what's the fate of the stolen millions (allegedly linked to the infamous Lazarus group)? Credits to: @ercwl @gauthamzzz @zachxbt @arkham @HYDNSecurity First, a curious thought: why update Ledger Firmware if you’ve already compromised a target machine, figured out key users, and successfully executed a web inject to show fake TX info? 🤔 Even Ben from ByBit noted on the livestream, "I checked the ledger; it seemed fine..." The need for human-readable transaction info is real! This was definitely a highly-sophisticated attack. Only government-linked hacker groups can do this. To add, this hack marks the grandest crypto heist EVER—1.46B+ vanished, a staggering 16% of all past crypto heists combined! But how will they move the loot? The moves are shrouded in mystery. For insights into North Korea’s alleged fund handling, check out report made by @chainalysis in 2022. The supposed playbook? 1️⃣ Swap ERC20s (like stETH) to ETH 2️⃣ Convert ETH to BTC 3️⃣ Cash out BTC to Chinese Renminbi via Asian exchanges Is there any chance of getting some of the money back? I think so, they can be blocked in the process of laundering. But… this game of patience can stretch for years. Fun fact: In 2022, North Korea reportedly still held onto 55M from 2016 hacks. 🤯 Stay vigilant, crypto community! 💼🔍