Cybercriminal Organization Lazarus Responsible for $23 Million Cryptocurrency Heist on British Start-up Leads Users to Opt for Premier Crypto Wallet
In the rapidly evolving world of cryptocurrencies, several significant events have taken place over the past year. Here's a roundup of some key developments.
Last year saw a spike in cryptocurrency thefts, with over $2.17 billion stolen from crypto services in 2025, surpassing all of 2024. The largest UK-based crypto theft, valued at an undisclosed amount, occurred in June 2024 and involved stolen assets across both the Bitcoin and Ethereum networks. The hack forced the crypto exchange Lykke to discontinue its service on December 6, 2024.
Meanwhile, the US Treasury sanctioned Tornado Cash, a crypto mixing service, in 2022 for helping scammers obscure their transaction trails for unlawful financial gain. However, a recent court ruling led the regulators to drop their appeal, so the sanctions against Tornado Cash are set to be lifted soon.
The hack on the US-based platform Lykke and the $1.4 billion hack on the ByBit platform remain unsolved, with no publicly detailed investigation results identifying the responsible parties. Reports indicate that ByBit was able to recover the lost coins by repurchasing them, but specific perpetrators have not been disclosed. ByBit's $1.4B hack accounts for the majority of losses in 2025.
Amidst these challenges, new services and products continue to emerge. Best Wallet, a multi-chain, non-custodial wallet, has gained attention for its support of over 1K digital assets across 60 blockchain networks. Best Wallet does not require Know Your Customer (KYC) for its mobile app, available on iOS and Android.
Best Wallet's native token, $BEST, offers a 90% Annual Percentage Yield (APY) for passive income. By buying and staking $BEST, users can enjoy lower gas fees, governance rights, and early access to top presales. The wallet also features a 'Cross-Chain Swap' function that connects to 330+ decentralized exchanges and 30+ bridges for optimal rates and fees.
In addition, Best Wallet has announced plans for a crypto debit card, Best Card, which will enable direct spending of assets and boost crypto accessibility and daily use.
It's important to note that the editorial process advises readers to always do their own research and never invest more than they'd be sad to lose. As the cryptocurrency landscape continues to evolve, staying informed and making informed decisions is crucial.
Lastly, Israeli research firm Whitestream and the UK watchdog have traced stolen funds from the $23 million hack on the US-based platform Lykke and the $1.4 billion hack on the ByBit platform through exchanges. The UK Treasury's Office of Financial Sanctions Implementation (OFSI) identified the state-sponsored hacking group Lazarus as responsible for the theft. Lazarus also stole around $3.2M worth of $SOL in May 2025.
Best Wallet uses Fireblocks' Multi-Party Computation (MPC) technology for enhanced security, providing an extra layer of protection for users' assets. As the cryptocurrency industry continues to grow, security measures like these will become increasingly important.
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