Picture this: It’s a normal Friday, February 21, 2025. Bybit’s team is moving funds from a cold wallet—think of it as a super-secure crypto vault—to a warm wallet for everyday use. Then, bam! Over 401,000 ETH, worth $1.5 billion, vanishes into thin air. The culprits? The Lazarus Group, North Korea’s hacking all-stars.
Here’s the kicker: they didn’t hack the system like some Hollywood movie with lines of code flying across the screen. Nope. They played a smarter game. They spoofed Bybit’s signing interface—basically, they made a fake webpage that looked legit. Bybit’s multi-signature signers, the folks who green-light big transactions, thought they were approving a routine transfer. Instead, they handed the keys to the kingdom over to Lazarus. It’s like giving your car to a valet who drives off with it—except this valet’s got missile money on their mind.
Lazarus Crypto Hack
Blockchain sleuth ZachXBT caught it quick. He traced the funds as they split across 53 wallets, then linked it to Lazarus’ past hits, like the $29 million Phemex hack in January. Arkham Intelligence backed him up, awarding him a juicy $50,000 bounty for cracking the case. Sneaky, slick, and downright scary—that’s Lazarus in a nutshell.
Bybit’s Response—Keeping the Ship Afloat
Now, if $1.5 billion got swiped from your bank account, you’d probably be in full meltdown mode, right? Bybit didn’t flinch—at least, not publicly. CEO Ben Zhou jumped on X faster than you can say “blockchain” to calm the storm. “All other cold wallets are secure,” he posted. “Withdrawals are normal.” And you know what? They were.
Within 12 hours, Bybit processed every withdrawal request. Sure, some folks hit delays—network congestion’s a beast when panic sets in—but 70% of requests are cleared without a hitch. Zhou even snagged a bridge loan covering 80% of the stolen Ethereum. That’s like getting a buddy to spot you cash after your wallet’s pinched. Bybit stayed solvent, kept trading alive, and proved it’s got some serious grit.
For us at HyroTrader, a crypto prop firm on Bybit.com, this was a relief. Our traders kept doing their thing—buying, selling, and raking in profits on USDT perpetuals—without missing a beat. But it got us thinking: how does a hack like this ripple through crypto prop trading?
Ethereum Hack Lazarus
Crypto Prop Trading—A Safer Bet in a Wild Market
Let’s pivot for a second. You’re a trader, 25-55, grinding away at crypto charts, dreaming of big wins. You’ve got two paths: trade with your own money or join a crypto prop firm like ours. The Bybit hack shines a spotlight on why prop trading is a game-changer.
When you trade your own account, every dollar’s yours—win or lose. A hack hits, and poof, your savings could be toast. With crypto prop trading, we hand you the capital—up to $100,000 at HyroTrader. You trade on Bybit, keep up to 90% of the profits, and we cover the losses. If a hack happens, it’s our headache, not yours. Pretty sweet deal, huh?
Take Joe, a 32-year-old trader I met at a crypto meetup. He lost $10K in a sketchy exchange hack last year. “I was gutted,” he told me over a beer. “Months of work, gone.” Now he’s with us, trading USDT perpetuals on Bybit, and he sleeps better knowing his own cash isn’t on the line. That’s the prop trading edge—less stress, more focus.
Why Bybit’s Still a Top Pick for Crypto Prop Firms
You might be wondering, “After a $1.5 billion hack, why stick with Bybit?” Fair question. Here’s the deal: Bybit’s a titan in the crypto game. It’s got lightning-fast execution, deep liquidity, and over 500 USDT pairs—perfect for prop traders like ours at HyroTrader. The hack didn’t kill it; it showed its backbone.
Bybit Hack Lazarus
Think of Bybit like a boxer who takes a hard punch but stays standing. Zhou’s team didn’t just patch the hole—they’re working with law enforcement and blockchain pros to chase those stolen funds. Plus, they’ve got $20 billion in assets on the platform. One cold wallet getting hit didn’t sink the ship. For a crypto prop firm on Bybit.com, that’s a big green flag.
We’ve seen exchanges crumble—FTX, anyone?—but Bybit’s different. It’s not invincible (nothing is in crypto), but it’s battle-tested. Our traders keep 90% of their profits, and Bybit’s platform keeps humming. That’s why HyroTrader’s all-in on it.
Lazarus Group—Crypto’s Boogeyman
Let’s talk about the bad guys. The Lazarus Group isn’t your average hacker crew. They’re North Korea’s cyber muscle, funding missiles and mayhem with stolen crypto. In 2024 alone, they nabbed $1.34 billion across 47 hacks, according to Chainalysis. The Bybit job? Their crown jewel.
These folks are pros. They’ve hit Ronin Network for $600 million, CoinEx for $54 million, and now Bybit for $1.5 billion. Their trick with Bybit—spoofing the UI—shows they’re not just breaking code; they’re breaking people. It’s social engineering on steroids. Imagine a con artist convincing you to hand over your house keys, then driving off with your car too. That’s Lazarus.
For crypto prop trading, this is a wake-up call. We can’t just lean on tech; we’ve got to train our teams to spot the scams. At HyroTrader, we’re doubling down on security chats with our traders. No fake emails or dodgy links here—just solid, safe trading.
What Does It Mean for You, the Trader?
Okay, let’s bring it home. You’re eyeing a funded account with a crypto prop firm. Maybe you’re sceptical after the Bybit hack. Here’s why it shouldn’t scare you off—and might even push you to join us.
First, the hack didn’t touch client funds. Bybit’s hot wallets, and warm wallets—all fine. The hit was one cold wallet, and they’ve got it covered. Second, prop trading shields you. At HyroTrader, you’re trading our money. If lightning strikes twice, we take the hit, not you. Third, Bybit’s still the best playground for crypto prop trading—fast, flexible, and packed with opportunities.
Ehtereum hack on bybit
I chatted with Sarah, a 45-year-old trader who’s been with us for six months. “I saw the headlines and freaked,” she admitted. “But my account’s safe, and I made $2K this week.” That’s the vibe we’re going for—peace of mind with a side of profits.
HyroTrader—Your Ticket to Crypto Prop Trading
Here’s where we shine. At HyroTrader, we’re a leading crypto prop firm on Bybit.com. Our traders get to play on the popular Bybit platform, trading USDT perpetuals with up to $100,000 in capital. You keep up to 90% of the profits—yep, you heard that right. We cover the losses, so you can swing for the fences without sweating your rent money.
How do you get in? Simple. Take our 1-step or 2-step trading challenge. Show us you’ve got the chops—hit a 15% profit target across two phases, no time limit—and you’re funded. The challenge fee? Fully refundable with your first profit split. It’s like a tryout with a safety net. Once you’re in, we’ve got mentors, 24/7 support, and a community to keep you sharp.
Compare that to trading solo. You’re dodging hacks, chasing fees, and praying the market doesn’t tank your savings. With us, it’s all upside, no ulcers.
Lessons from the Hack—Staying Sharp in Crypto
The Bybit hack’s a wild story, but it’s got some gold nuggets for us traders. Lesson one: trust, but verify. Even big exchanges can slip up. Lesson two: humans are the weak link. Tech’s great, but a slick fake page can fool anyone. Lesson three: bounce-back matters. Bybit’s quick recovery shows why we stick with them.
For crypto prop trading, it’s a reminder to pick partners wisely. We chose Bybit for its speed and scale, and we’re not jumping ship over one bad day. But we’re keeping our eyes peeled—security’s a team sport, and we’re all players.
Ever had a buddy lose cash to a phishing scam? I did. Mike, 38, clicked a bad link and kissed $5K goodbye. “Never again,” he grumbled. Now he’s with us, trading safe and laughing about it. That’s the goal—learn, adapt, and keep winning.
The Bigger Picture—Crypto’s Growing Pains
Zoom out a bit. Crypto’s still the Wild West. Hacks like Bybit’s are the bandits riding through town, kicking up dust. In 2024, $2.2 billion got swiped across 303 hacks. That’s a lot of digital loot. But here’s the flip side: the market’s growing up. Exchanges like Bybit are fighting back, and prop firms like ours are giving traders a safer path.
Think of it like a gold rush. Sure, there’s risk—bandits, bad maps, shaky claims. But there’s also treasure. Crypto prop trading’s your pickaxe—dig in with us, and you’re not alone in the dirt. We’ve got your back, and Bybit’s got the ground we stand on.
What’s Next for Bybit and Prop Trading?
So, where’s this all heading? Bybit’s not slowing down. They’re chasing those stolen funds with law enforcement and blockchain trackers. The Lazarus Group might cash out some ETH, but moving $1.5 billion’s like trying to hide an elephant in a phone booth—tough to pull off quietly.
For crypto prop firms on Bybit.com, it’s business as usual—with a twist. We’re tightening our own belts, making sure our traders know the ropes on scams and safety. HyroTrader’s sticking with Bybit because it’s still the best spot for USDT perpetuals and big wins. The hack’s a bruise, not a knockout.
You? You’ve got a chance to jump in. Crypto’s messy, sure, but it’s also where the action is. With us, you’re riding the wave, not drowning in it.
Conclusion
The Bybit hack by Lazarus was a $1.5 billion gut punch to crypto—but it didn’t break the game. It showed us the stakes, the smarts of hackers, and the strength of platforms like Bybit. For crypto prop trading, it’s a loud reminder: trading your own cash is risky, but joining a crypto prop firm like HyroTrader flips the script. We give you capital, Bybit gives you the playground, and you keep 90% of the wins. No hack’s changing that.
Ready to trade smarter? Join our Discord community to chat with us and explore our website. Take on our 1-step or 2-step trading challenges—get funded and start stacking profits. Let’s turn this wild ride into your big break.
FAQ: Your Questions About the Bybit Hack and Crypto Prop Trading
Q: What exactly happened in the Bybit hack?
A: The Lazarus Group stole $1.5 billion in Ethereum on February 21, 2025. They faked Bybit’s signing interface, tricking the team into approving a malicious transfer from a cold wallet.
Q: Is Bybit still safe for trading after the hack?
A: Yep! Client funds weren’t touched, and Bybit kept withdrawals running. They’ve got $20 billion in assets and a loan to cover losses—still a solid choice for us at HyroTrader.
Q: How does crypto prop trading protect me from hacks?
A: With a prop firm like ours, you trade our money, not yours. If a hack hits, we absorb the loss—you just keep trading and banking profits.
Q: Why choose HyroTrader as a crypto prop firm on Bybit.com?
A: We hook you up with up to $100,000 to trade on Bybit. You keep 90% of profits, we cover losses, and our challenges get you funded fast.
Q: Who’s the Lazarus Group, and why do they keep hacking crypto?
A: They’re North Korea’s cyber crew, stealing billions to fund their regime. Bybit’s just their latest score—they’re pros at this.
Q: Can I still make money trading on Bybit post-hack?
A: Absolutely. Our traders are killing it with USDT perpetuals. The hack didn’t stop the market—it’s still ripe for the picking.
Don’t let the crypto chaos hold you back! Join our Discord community today—swap stories, get tips, and vibe with fellow traders. Then hit up www.hyrotrader.com to tackle our 1-step or 2-step trading challenges. Get funded, trade on Bybit, and keep 90% of your profits. Let’s make this your year—jump in now!