As investigations unfolded, authorities traced the attack back again to North Korea?�s infamous Lazarus Team, a point out-backed cybercrime syndicate which has a very long historical past of targeting money institutions.
Within the several years primary up into the February 2025 copyright hack, the copyright industry knowledgeable a big escalation in cyber threats. The 1st 50 % of 2024 alone saw a doubling in funds stolen by means of here copyright hacks and exploits when compared to a similar period in 2023.
All transactions are recorded on-line within a electronic databases identified as a blockchain that takes advantage of powerful one-way encryption to ensure stability and evidence of ownership.
By the time the dust settled, more than $1.five billion truly worth of Ether (ETH) were siphoned off in what would develop into amongst the most important copyright heists in record.}