The Lazarus Group, a North Korean hacking collective, has executed the largest crypto heist in history, stealing $1.4 billion. On February 22, they transferred 10,000 Ether, worth about $27 million, to a wallet tagged Bybit Exploiter 54 for laundering the funds, as reported by onchain analytics firm Lookonchain. The group now holds approximately 489,395 ETH, valued over $1.3 billion, alongside 15,000 Mantle Restaked ETH across 53 wallets. In the past eight hours, over 83 transactions have occurred between wallets, significantly impacting the market and causing ETH's price to dip approximately 8%. Mudit Gupta, CISO of Polygon, indicated that around $43 million in stolen funds has been recovered due to collaborative efforts from various teams. In response to the heist, Bybit announced a bounty program offering up to 10% of the stolen amount, potentially totaling $140 million, to those who assist in recovering the funds. CEO Ben Zhou confirmed that trading and withdrawals have normalized after the temporary congestion following the breach.

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