Bybit, a major cryptocurrency exchange based in Dubai, was recently hacked, losing $1.5 billion worth of Ethereum in the largest crypto theft to date.

The North Korean hacking group Lazarus is suspected to be behind the attack.

The group exploited a masked UI and URL to deceive wallet signers into approving a malicious transaction, gaining control of Bybit’s Ethereum cold wallet.

The stolen funds were transferred to 53 wallets and are being closely monitored.

The Lazarus Group has a history of high-profile cybercrimes, including the 2014 Sony hack and the 2017 WannaCry ransomware attack, Forbes has reported.

The breach highlights ongoing security concerns in the cryptocurrency industry.

Written by B.C. Begley