The $1.5 billion Bybit hack, the largest in crypto history, has been traced to the Lazarus Group, North Korea’s state-backed cybercrime unit. The attackers exploited a flaw in Bybit’s cold wallet multi-signature system, stealing over 400,000 ETH. Investigators later tracked some laundered funds to a Greek crypto exchange, where portions of the stolen assets were cashed out or routed through mixers. Bybit responded swiftly, restoring user balances via emergency funding and launching a 10% bounty for asset recovery. The breach triggered a crypto sell-off and renewed calls for stricter exchange security and global anti-laundering crypto regulations. Investigations are ongoing.