On February 21, 2025, a group of North Korean hackers pulled off the largest crypto heist to date, stealing $1.5 billion in Ethereum tokens from ByBit, a Dubai-based cryptocurrency exchange. The unprecedented breach underscored the growing sophistication of state-sponsored cybercrime. In 2022, hackers infiltrated the Ronin Network, a blockchain platform linked to the popular game Axie Infinity, and made off with $540 million in crypto. They reportedly gained access to private keys, enabling them to withdraw funds undetected—highlighting serious vulnerabilities in decentralized infrastructure. The third-largest crypto heist occurred in 2018, when hackers drained $530 million from Japan-based exchange Coincheck. This early breach set a precedent for the industry, serving as a warning of what was to come as the crypto market grew.