Bybit lost around $1.5 billion in ETH, attributed to North Korea’s Lazarus Group

Quotes that support claims

According to blockchain analytics firm Lookonchain, the Lazarus Group, believed to be affiliated with North Korea, currently holds approximately 489,395 ETH—valued at around $1.3 billion—spread across 54 wallets.

Despite growing calls from the crypto industry to roll back the Ethereum network to its pre-Feb. 21 state, before the Lazarus Group’s $1.5 billion hack on crypto exchange Bybit, Ethereum core developer Tim Beiko warns against the idea

On February 21, the exchange lost nearly $1.5 billion in ETH to hackers, sparking discussions about whether Ethereum should intervene to recover the stolen funds.

Arthur Hayes, co-founder of BitMEX and major ether (ETH) holder, asked Ethereum co-founder Vitalik Buterin if he would be willing to entertain the idea of rolling back the network to assist hacked exchange Bybit, which lost nearly $1.4 billion in ether (ETH) on Friday.