On-Chain Analyst Links Bybit, Poloniex, Phemex, and BingX Hacks to the Same Entity

Flash

February 24, 2025 9:59 PM

In Brief:
Blockchain investigator ZachXBT has linked the Bybit, Poloniex, Phemex, and BingX hacks to a single entity.
The connection was made through a merged address (0x15ec) used for laundering stolen funds.

According to ZachXBT, today’s laundering activity from the Bybit hack also tied back to the Poloniex hack, confirming an on-chain link. This raises concerns over the scale and coordination of the attacks, suggesting that a single hacking group may be responsible for exploiting multiple exchanges.

The Lazarus Group, a North Korean state-sponsored hacker group, has been previously linked to high-profile exchange breaches. While attribution is still under investigation, crypto security firms and exchanges are actively tracking stolen assets to prevent further laundering.

Disclaimer: Backdoor provides informational content only, it is not offered or intended to be used as legal, tax, investment, financial, or other advice. Investments in digital assets involve risk, and past performance does not guarantee future results. We recommend conducting your own research before making any investment decisions.