Shocking Crypto Caper: Hacker Outshines Vitalik and Fidelity! 😱💰

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In a most extraordinary turn of events, a most audacious crypto heist upon the esteemed exchange known as Bybit has catapulted the nefarious hacker into the lofty echelons of the world’s most illustrious Ethereum (ETH) holders. One might say, it is a tale worthy of a novel, albeit with a rather dubious protagonist.

Following this exploit, the audacious rogue now possesses an amount of ETH that surpasses even the illustrious Vitalik Buterin, co-founder of Ethereum, and the venerable investment firm Fidelity, thus securing for themselves the rather dubious distinction of being the 14th largest ETH holder globally. One cannot help but chuckle at the irony of it all! 😂

This remarkable fact was brought to light by none other than Conor Grogan, a director at Coinbase, who took to the platform X to declare: “The Bybit hacker (most likely N.K.) is now the 14th largest ETH holder in the world. They hold roughly 0.42% of total supply, more than Fidelity, Vitalik, and twice what the Ethereum Foundation holds.” One must wonder if this hacker has a penchant for fine dining, given their newfound wealth! 🍽️

The Bybit hacker (Most likely N.K.) is now the 14th largest ETH holder in the world

They hold roughly 0.42% of total supply, more than Fidelity, Vitalik, and 2x what the Ethereum Foundation holds.

— Conor (@jconorgrogan) February 21, 2025

According to a rather alarming screenshot shared by Mr. Grogan, the Bybit hacker now possesses assets valued at a staggering $1,371,119,571. This includes a princely sum of 499,395 ETH, which is worth a cool $1.37 billion—twice the amount held by the Ethereum Foundation, no less! They also boast a modest 0.206 BNB worth $135.61 and a trifling 93 USDT worth $93. One might say they are living rather extravagantly! 💸

Pray, What Happened?

It appears that a most cunning hacker has gained possession of one of Bybit’s Ethereum cold wallets, as disclosed by the exchange’s CEO, the estimable Ben Zhou, in a post on X this past Friday. An estimated $1.46 billion in assets has been spirited away from the wallet in a series of rather suspicious transactions. One can only imagine the gasps of disbelief that echoed through the halls of Bybit! 😲

This hack is regarded as the most significant cryptocurrency theft in history, surpassing the previous record of $611 million pilfered from Poly Network in 2021. It is, perhaps, the “largest incident ever, not just in the realm of crypto,” but in the annals of thievery itself! 🏴‍☠️

According to the diligent researchers at Nansen, the funds stolen from Bybit on that fateful Friday amounted to more than $1 billion in Ether, with the remainder consisting of ETH derivatives such as stETH. The breakdown is as follows: 401,347 ETH worth $1.12 billion; 90,376 stETH worth $253.16 million; 15,000 cmETH worth $44.13 million; and 8,000 mETH worth $23 million. One must admire the hacker’s organizational skills, if nothing else! 📊

As per Nansen’s findings, the tokens were initially transferred to a single wallet before being distributed to over 40 others. The attacker, suspected to be affiliated with the notorious North Korean group Lazarus, converted all Ethereum derivatives to Ethereum before transferring the ETH in $27 million increments to more than ten additional wallets. It seems our rogue has quite the flair for dramatic exits! 🎭

In the aftermath, the exchange has taken out bridge loans with partners and has secured approximately 80% of the funds necessary to replace the loss, as stated by the Bybit CEO, who further added that the exchange shall endeavor to recover the funds and pursue necessary legal action against the dastardly hackers. One can only hope that justice prevails in this most curious affair! ⚖️

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2025-02-22 14:49