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At a time when cryptocurrency has become an important part of the financial world, hackers have begun to use even more sophisticated and cunning methods to steal digital assets. Although the FBI has established the involvement of North Korean hackers in this theft from the ByBit cryptocurrency exchange, it has served as yet another reminder to the world. A reminder that in the world of virtual assets, vigilance and caution are your best friends.
Sergey, a direct participant in the events, speaking on condition of anonymity, says: "Even if you follow the security rules, you can only significantly reduce the risk of digital asset theft. As a former cybersecurity specialist, I am convinced that the best protection against fraudsters is cold calculation and inconspicuousness. That is why I always chose solitude in my work... But one morning everything changed — the unhurried flow of life, with its calm but boring work, was tinged with stormy colours.
I heard the TV news anchor say: "... Bybit, one of the world's largest crypto exchanges, serving over 60 million users and offering access to various cryptocurrencies, has reported a hacker breach. This resulted in the loss of nearly $1.5 billion in cryptocurrency. The US Federal Bureau of Investigation said the investigation led to a group operating on the deep web..."
"The first thoughts and questions that came to my mind were: do the agents know or not? Do they know that the group from North Korea also recruited an ordinary guy from Zaporizhia, Ukraine, to withdraw the assets? Do they have any idea who could have hacked the system so skilfully and who helped them launder the stolen funds so quickly? In addition, I used artificial intelligence to simulate normal requests and bypass security," says Sergey.
According to him, it turns out that it was actually very easy to move and convert the stolen assets through DEX, cross-chain bridges, mixers, etc. As for the work itself, hackers use a variety of methods to gain access to crypto assets. These include searching for vulnerabilities in software and in the code of wallets or exchange platforms. They also use DDoS attacks on servers to create opportunities for intrusion. At the same time, they use stolen databases with passwords or special software.
One method is to combine different combinations of the above methods. In all corners of cyberspace, human ingenuity can achieve any goal.
