State of Cybercrime

$1.5B ByBit Crypto Heist

Episode Summary

The Bybit crypto exchange was hacked for a record-breaking $1.5 billion theft of Ether cryptocurrency – perhaps the largest scale theft of all time. The FBI has linked the attack to TraderTraitor, a sub-cluster of the Lazarus Group, who leveraged a compromised machine of Safe{Wallet} to execute a supply chain attack on the Bybit platform. Matt and David review how this attack unfolded, and share updates on DeepSeek AI and Salt Typhoon. Listen now!

Episode Notes

The Bybit crypto exchange was hacked for a record-breaking $1.5 billion theft of Ether cryptocurrency – perhaps the largest scale theft of all time. The FBI has linked the attack to TraderTraitor, a sub-cluster of the Lazarus Group, who leveraged a compromised machine of Safe{Wallet} to execute a supply chain attack on the Bybit platform. Matt and David review how this attack unfolded, and share updates on DeepSeek AI and Salt Typhoon. Listen now!