A little backstory: On February 21, 2025, Bybit, one of the world’s largest crypto exchanges, was hacked for $1.4 billion. Bybit is a major exchange with: ✅ $16.2B in reserves ✅ Multi-signature cold wallets ✅ A strong security team The stolen funds (401,347 ETH) were drained from one of its most secure cold wallets. But, Bybit didn’t collapse. Bybit CEO Ben Zhou responded immediately: ⟜ Secured a bridge loan covering 80% of losses ⟜ Confirmed user funds were safe ⟜ Kept withdrawals running despite $1.5B in outflows They held the line and proved they had real reserves. But the damage was done. x.com/benbybit/statu… Arkham Intelligence then put up a $50,000 bounty to identify the attackers. On-chain analyst @zachxbt started investigating. He followed the stolen ETH and linked it to Lazarus Group. x.com/arkham/status/…