Bybit Hack: $1.4 Billion Crypto Heist Highlights Growing Laundering Tactics

The recent Bybit crypto-currency heist, which saw hackers steal approximately $1.4 billion in Ethereum, highlights the evolving tactics of cyber criminals and the growing challenge of tracking stolen digital assets. The attackers, allegedly linked to North Korea, have already laundered a significant portion of the stolen funds by converting them into Bitcoin and utilising crypto mixers to obscure transaction trails. At CYFOR Secure, we recognise how cyber criminals are leveraging decentralized finance (DeFi) tools to evade detection, making traditional anti-money laundering (AML) mechanisms struggle to keep pace. As crypto-related cyber threats escalate, businesses must adopt advanced blockchain monitoring, real-time threat intelligence, and proactive security measures to mitigate risks.

Silk Typhoon Shifts to IT Supply Chain Attacks

The recent shift in tactics by Silk Typhoon, a Chinese state-sponsored cyber-espionage group, highlights the growing risk to IT supply chains and cloud environments. Microsoft has confirmed that Silk Typhoon is now targeting remote management tools and cloud services to infiltrate downstream customer networks, expanding their espionage reach beyond individual organisations. Instead of relying on malware and web shells, the group now exploits stolen API keys, compromised credentials, and unpatched vulnerabilities to maintain stealthy access while clearing logs to evade detection.

 As attackers increasingly exploit cloud environments and privileged access management systems, businesses must strengthen their identity security, implement real-time threat monitoring, and conduct continuous vulnerability assessments. Cyber threats are evolving rapidly, and a proactive security approach is crucial to mitigating risks posed by state-backed actors like Silk Typhoon.