North Korean hackers have robbed the Bybit cryptocurrency exchange, executing what is described as the "largest theft in history."

Last week, one of the largest cryptocurrency exchanges in the world, Bybit, was hacked, resulting in the theft of Ethereum valued at approximately $1.46 billion – likely the largest such theft in history.

According to Bybit, around 401,000 ETH (units of Ethereum) were stolen during the cyberattack.

The FBI stated that, based on its information, the cryptocurrency theft was carried out by hackers linked to the North Korean government, as reported by BBC.

Bybit assured users that their funds are safe, and anyone whose wallets were affected by the attack will be able to recover their cryptocurrency in full. Bybit has asked users to assist in locating the funds stolen by the hackers.

The FBI confirmed the western media's suspicions that the cryptocurrency theft was executed by the Lazarus Group, also known by names such as APT38, BlueNoroff, and Stardust Chollima. The FBI refers to this group as "TraderTraitor."

“Members of TraderTraitor act swiftly and have already converted part of the stolen assets into bitcoins and other virtual assets, scattered across thousands of addresses on numerous blockchains. It is expected that these assets will be laundered and eventually converted into fiat [i.e., traditional] currency,” the FBI announced.

Previously, several western publications reported that hackers from the North Korean-linked group Lazarus Group might be behind the attack.

Investigators tracking Lazarus Group's activities report that in recent years, this group has stolen cryptocurrency worth around $6 billion. It is believed that these funds are used by the North Korean government to make purchases circumventing international sanctions and to finance its military programs.

Background. As reported, North Korean hackers stole $1 billion worth of cryptocurrency last year. In addition, they were interested in data from foreign defense and aerospace companies.