North Korean hackers attacked crypto exchanges, $1.5 billion was stolen from Bybit, how deep is the general's kindness?
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Family members, these days mixing in the crypto world is like playing marbles in the "Squid Game" - you never know who the next unlucky victim will be. That's right, the other night, a certain North Korean general who wishes to remain anonymous suddenly pulled out his cyber machine gun and started firing at the Bybit exchange - 1.5 billion dollars' worth of ETH was moved out faster than the North Korean Foreign Ministry spokesman can change his face.
The Heavyweight of the Hacker World, the Cyber Royal Guard of the General: The General's Kindness is Deeper than the Sea
As for this Lazarus Group, they are the top idol group in the hacker world. While other hackers operate in stealth, they leave their "Long Live the General" watermark on the blockchain every time they strike. Last year, they just used the layout style of the "Labor News" to hack Axie Infinity - $620 million, and this year they came with the "Main Ideology Reinforced Edition" smart contract to warm up Bybit - directly giving Bybit a $1.5 billion "electronic indulgence."
According to the on-chain Sherlock Holmes @zachxbt's investigation report, the hackers' operation this time is textbook-level "The Art of War." First, they tested the transaction points, then forged the signature interface to switch the day and night, and finally used the money laundering techniques comparable to "Zhou Chu Excluding the Three Evils" to sweep away 400,000 ETH/stETH. The most amazing part is that the whole process was as smooth as Ruo Yonghao's live-stream sales.
Bybit's Crisis Management: From "Chained Q" to "Resurrection"
When Bybit's CTO saw the cold wallet balance drop to zero at midnight, his inner OS was probably more tragic than North Korean anchor Li Chunji's roar. The official announcement was written so heartbreakingly that translated into plain language it means: "Family, we were beaten up by the 7th Cyber Brigade of the Korean People's Army, but don't panic! We still have our ancestral $20 billion reserve fund!"
Facing this epic theft, Bybit CEO Ben Zhou directly entered live-streaming sales mode - no, live-streaming firefighting mode. Frequent one-liners comparable to Li Jiaqi: "Folks, don't worry, Bitcoin is still the beloved son, and ETH is just the adopted son!" "Our reserves are harder than the Oriental Pearl, 1:1 redemption is not a dream!"
This incident has given all the crypto old-timers a vivid lesson: the so-called "cold wallet" may be as cold as the North Korean winter heater. Bybit officially said this was a "planned routine transfer," wow, this plan was more meticulous than the North Korean five-year plan, directly reserving a VIP channel for the hackers.
The Crypto Community's Epic Rescue Scene: The "Friends" of the Crypto World
When the $1.5 billion black hole appeared, the entire industry instantly staged a "The Wandering Earth" style rescue. Binance's He Yi released the "Just say the word if you need help" edict.
Bitget instantly became the ETH carrier, transferring 40,000 ETH across the chain overnight, more punctual than a Meituan delivery rider.
The Blood Pressure of the Retail Investors for 12 Hours
When BTC fell below $95,000, ETH and SOL spontaneously performed the faith dive, and the cries on the rooftops were more resounding than the patriotic recitations on North Korean TV.
When Bybit's treasury was emptied, USDe also directly performed the "Mission: Impossible" style faith anchor drop, with the price free-falling straight to $0.98. The project team urgently activated the "Avengers" plan, with $2 billion in liquidity support more fierce than Ultraman fighting small monsters, forcibly pulling the stablecoin back to $0.998, truly a "Fast and Furious" moment in the crypto world, and its token ENA also quickly rebounded to its high point.
The dramatic highlight was the founding partner of the Three Arrows Capital, Zhu Su, who finally received the FTX compensation after two and a half years, and immediately deposited it into Bybit. I suggest this gentleman calculate his fortune before the next transfer, or directly consult the North Korean embassy hotline for today's horoscope.
Survival Rules for Retail Investors: Staying Alive is Victory
This $1.5 billion tragedy has taught us a vivid lesson:
If the CEO is frantically wiping sweat during the live stream, it's time to immediately withdraw and buy some emergency heart medicine.
Multi-signature wallets can withstand gentlemen, but not the North Korean national team.
When facing North Korean statutory holidays, please clear your positions in advance, after all, hackers also have to meet their annual KPIs.
Prepare a few exchange accounts, diversifying investments is like offering the General not just apples.
To Our Ultimately Absurd Crypto Future
When we look back on this night that will go down in crypto history, we will find that the plot here is always more gripping than "Game of Thrones." There are the cyber blitzkrieg of North Korean hackers, the Oscar-level crisis management of exchange CEOs, the detective games of on-chain sleuths, and the eternally tear-filled faith recharging of the retail investors.
But it is in this absurdist realism that I see the vitality of the industry - being robbed of $1.5 billion and still able to joke around, USDe de-pegging for 4 hours and then fully recovering, the big shots calling out to each other in a crypto version of "The Wandering Earth" global rescue.
This reminds me of the slogan at Panmunjom: "If you seek peace through struggle, then peace will exist; if you seek wealth through All In, then you will see the rooftop."
Perhaps this is the charm of the crypto world: in this decentralized world, some are hackers, some are knights, but in the end we are all writing our own "kindness" legends in this grand TV series called "Blockchain Saga."
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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