On-chain sleuth ZachXBT has implicated North Korean hackers in laundering Bybit hack funds through cross-chain bridges, causing global concern.

This discovery highlights vulnerabilities in cross-chain technology, raising alarms within the crypto community and prompting calls for security enhancements.

in the community emphasized the exploitation of cross-chain bridges by North Korean entities to mask hacked fund movements.

The investigation focuses on Bybit, where allegedly flowed across multiple blockchains. This technique complicates transaction tracing and detection efforts.

has been swift, with calls for increased scrutiny and collaboration to fortify defenses. Leading industry figures amplify the importance of enhanced security measures.

North Korean cyber activities have previously generated over $2 billion from illicit activities, primarily targeting financial and cryptocurrency platforms.

Ethereum (ETH) currently trades at $2,608.42, boasting a market cap of $314.90 billion. The trading volume surged by 51.51% over 24 hours. Recent movements saw price increases of 4.71% and 44.80% in 24 hours and 60 days, respectively, according to CoinMarketCap.

underscore the pressing need for regulatory cooperation to address cross-chain vulnerabilities. Enhanced technological solutions can mitigate risks and strengthen the crypto infrastructure’s resilience. Cross-chain vulnerabilities are a significant concern in the community.