Library · Crypto, word by word · Events and incidents
What was the Bybit hack?
On or about February 21, 2025, about $1.5 billion in crypto was stolen from the exchange Bybit. The FBI attributed the theft to North Korea, activity it tracks as TraderTraitor.
What it means for you
Coins held by an exchange are exposed to that exchange's security. Stolen funds get spread across thousands of addresses and chains, and the FBI asks businesses to block them.
How it works
The FBI says TraderTraitor actors converted some of the stolen assets to bitcoin and other assets, dispersed across thousands of addresses on multiple blockchains, expected to be laundered and converted to fiat. It asked exchanges, bridges, node operators and others to block transactions with those addresses.
Source: FBI: North Korea responsible for $1.5 billion Bybit hack · checked 5 October 2026
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