On February 21st, ByBit’s CEO, Ben Zhou, faced a grave situation when informed that their Ethereum funds had been hacked. This alarming event underscores the expertise of North Korean hackers in executing major cyber thefts in the cryptocurrency domain.
On February 21st, Ben Zhou, the CEO of ByBit, a cryptocurrency exchange located in Dubai, experienced a moment of alarm when he was informed by his chief financial officer that their Ethereum funds had vanished. Zhou had just authorized a standard fund transfer in managing their operations for over 60 million users worldwide. This incident highlights the alarming capabilities of North Korean hackers, known for their successful cyber theft operations in the cryptocurrency sector.
The incident at ByBit emphasizes the formidable skills of North Korean hackers in executing large-scale cyber heists. Their ability to exploit vulnerabilities has made them a significant threat in the cryptocurrency landscape. Continued vigilance and innovative security measures are essential to combat this growing cybercrime issue.
Original Source: www.economist.com
