The UK’s National Cyber Security Centre (NCSC), part of GCHQ, and the South Korean National Intelligence Service (NIS) said they observed hackers exploiting previously unknown vulnerabilities in third-party software in supply chains in order to gain access to an organisation’s systems.
Bybit CEO Ben Zhou posted on X that it was "the worst hack in history", adding: "Bybit is solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss.".
A $1.19 billion crypto theft has allegedly have been carried out by cyber criminals from North Korea, feared to be "the worst hack in history".
The two agencies warned that such attacks on the software-based supply chain pose a particularly significant threat, as it means a single initial compromise can affect a number of organisations and lead to onward attacks, resulting in greater disruption or ransomware being deployed.
In a joint advisory issued by the two nations’ cyber security and intelligence agencies, they urged organisations to boost their security measures to reduce the risk of their systems being breached.
