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Lido Staked ETH price

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Price of Lido Staked ETH today

The live price of Lido Staked ETH is $2,218.12 per (stETH / USD) today with a current market cap of $20.83B USD. The 24-hour trading volume is $219.93M USD. stETH to USD price is updated in real time. Lido Staked ETH is -3.48% in the last 24 hours. It has a circulating supply of 9,390,603 .

What is the highest price of stETH?

stETH has an all-time high (ATH) of $4,982.43, recorded on 2021-11-16.

What is the lowest price of stETH?

stETH has an all-time low (ATL) of $551.78, recorded on 2020-12-24.
Calculate Lido Staked ETH profit

Lido Staked ETH price prediction

When is a good time to buy stETH? Should I buy or sell stETH now?

When deciding whether to buy or sell stETH, you must first consider your own trading strategy. The trading activity of long-term traders and short-term traders will also be different. The Bitget stETH technical analysis can provide you with a reference for trading.
According to the stETH 4h technical analysis, the trading signal is Sell.
According to the stETH 1d technical analysis, the trading signal is Strong sell.
According to the stETH 1w technical analysis, the trading signal is Strong sell.

What will the price of stETH be in 2026?

Based on stETH's historical price performance prediction model, the price of stETH is projected to reach $2,767.34 in 2026.

What will the price of stETH be in 2031?

In 2031, the stETH price is expected to change by +28.00%. By the end of 2031, the stETH price is projected to reach $4,720.46, with a cumulative ROI of +122.77%.

Lido Staked ETH price history (USD)

The price of Lido Staked ETH is -35.45% over the last year. The highest price of STETH in USD in the last year was $4,092.34 and the lowest price of STETH in USD in the last year was $2,077.73.
TimePrice change (%)Price change (%)Lowest priceThe lowest price of {0} in the corresponding time period.Highest price Highest price
24h-3.48%$2,077.73$2,325.35
7d-18.92%$2,140.01$2,824.88
30d-28.03%$2,077.73$3,423.05
90d-39.68%$2,077.73$4,092.34
1y-35.45%$2,077.73$4,092.34
All-time+273.28%$551.78(2020-12-24, 4 years ago )$4,982.43(2021-11-16, 3 years ago )

Lido Staked ETH market information

Lido Staked ETH's market cap history

Market cap
$20,829,505,662.68
Fully diluted market cap
$20,829,505,662.68
Market rankings
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Lido Staked ETH market

  • #
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  • Type
  • Price
  • 24h volume
  • Action
  • 1
  • STETH/USDT
  • Spot
  • 2221.77
  • $20.43M
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  • Lido Staked ETH holdings by concentration

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    Lido Staked ETH addresses by time held

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    Lido Staked ETH ratings

    Average ratings from the community
    4.6
    100 ratings
    This content is for informational purposes only.

    About Lido Staked ETH (stETH)

    What Is Lido Staked ETH?

    Lido is a decentralized application (dApp) on the Ethereum blockchain launched in 2020. It allows users to stake their Ether (ETH) in Ethereum. What makes Lido unique is its ability to create a liquid staking solution, a system that allows stakers to remain flexible with their staked assets. This is where Lido Staked ETH, also known as stETH, comes into play.

    In essence, Lido Staked ETH, or stETH, is a tokenized representation of staked Ether in the Ethereum 2.0 protocol. When users stake their ETH through Lido, they receive stETH tokens in return. These tokens are a one-to-one representation of the staked Ether, and their value increases with the rewards earned from staking.

    The significance of stETH lies in the fact that it is a liquid token, unlike the ETH that is staked in the Ethereum 2.0 protocol, which cannot be moved or used until certain network conditions are met. The stETH token, on the other hand, can be traded, moved, and used in DeFi protocols, providing holders with additional flexibility and opportunities to maximize the utility and profitability of their staked ETH.

    stETH plays a crucial role in decentralized finance (DeFi) as it offers stakers a way to interact with the rest of the DeFi ecosystem. DeFi is known for its ability to provide high-yield investment strategies, and with stETH, users can participate in these strategies with their staked ETH. This means that users are able to earn staking rewards while simultaneously participating in yield farming, lending, and other

    Resources

    Whitepaper: https://lido.fi/static/Lido:Ethereum-Liquid-Staking.pdf

    Official website: https://lido.fi/

    How Does Lido Staked ETH Work?

    Staking with Lido and Receiving stETH

    The process of staking ETH and receiving stETH is straightforward. Users deposit their ETH into the Lido. Lido then stakes this ETH with Ethereum 2.0 node operators on the users' behalf. After the deposit is made, users receive an equivalent amount of stETH tokens in their wallet.

    As mentioned before, the value of these tokens increases over time as staking rewards are earned. Therefore, even if the amount of stETH in a user's wallet remains the same, its value will rise in relation to ETH, reflecting the cumulative staking rewards.

    Using stETH in DeFi

    Once a user has stETH, they can use it as they would use any other Ethereum-based token. They can hold onto it and watch it appreciate in value as staking rewards come in, or they can use it in DeFi protocols.

    Many DeFi protocols accept stETH as a form of collateral for loans or as a stake in yield farming strategies. For instance, a user could deposit stETH into a lending protocol, earn interest on it, and simultaneously earn staking rewards.

    To ensure security and decentralization, Lido works with multiple staking providers instead of relying on a single operator. This means that the staked ETH is spread across various validators, reducing the risk of slashing penalties and ensuring a robust and decentralized staking solution.

    Lido Staked ETH vs Ethereum 2.0

    The Ethereum Merge has had a significant impact on stETH. Post Merge, stETH has maintained its value, largely due to Lido's offering of a more cost-efficient staking alternative. This bypasses the high staking requirements imposed by Ethereum after the Merge. Furthermore, stETH tokens can be freely exchanged on decentralized exchanges (DEXs) and utilized across a variety of DeFi applications, thereby increasing the potential for reward accumulation. Lido, accommodating the Merge, also introduced a special upgrade, offering extra incentives to validators acting as block proposers and receiving priority fees.

    Fast forward to July 2023, the Ethereum Shanghai upgrade that took place earlier in April this year enabled withdrawals from the ETH staking contract, reducing the risks once associated with staking ETH. However, despite these developments, stETH's demand remains robust. The flexibility offered by liquid staking, as facilitated by stETH, allows swift market position adjustments as opposed to staking actual ETH. Considering the complexity and high cost of staking on Ethereum, stETH continues to provide a favorable alternative for users. Moreover, Ethereum enthusiasts may identify stETH as an arbitrage opportunity due to potential price disparities between it and Ethereum. Nevertheless, exploiting such opportunities requires a significant amount of patience and strategic market analysis.

    What Determines Lido Staked ETH's Price?

    Investors and traders in the cryptocurrency market often seek real-time updates on the Lido stETH price. The stETH price today is influenced by a myriad of elements, including market demand, liquidity, and its intricate relationship with Ethereum (ETH).

    stETH Real-time Price and Market Dynamics

    Unlike ETH, stETH functions as a liquidity token within the DeFi ecosystem. Users can stake their ETH in a smart contract on the Lido blockchain to receive an equivalent amount of stETH. This stETH can be traded, exchanged, or used as collateral, making it a versatile asset. The stETH real-time price is subject to fluctuations based on market sentiment, trading volume, and other macroeconomic factors.

    stETH Historical Price and stETH vs ETH Price

    When it comes to stETH price analysis, historical price data and market cap are essential metrics. An intriguing aspect to consider is the stETH vs ETH price relationship. While stETH aims for a 1:1 token exchange ratio with ETH, market conditions can affect this. For example, during the market turbulence of 2022, the stETH price fell below that of ETH but later recovered.

    Lido stETH Price Prediction and Utility

    The Lido stETH price prediction is often influenced by upcoming Ethereum upgrades and stETH's utility in liquidity pools, lending platforms, and yield farming. These factors can significantly impact its demand and, consequently, its market cap and price.

    Stay Updated with stETH Price News and Lido stETH Trading Volume

    For the most accurate and up-to-date information, keep an eye on stETH price news, Lido stETH trading volume, and stETH price exchange data.

    In summary, the Lido stETH price is a complex interplay of various factors, including its utility in the DeFi space, its relationship with ETH, and broader market conditions. Whether you're examining the Lido stETH price chart for investment or trading purposes, understanding these dynamics can offer valuable insights. For real-time updates, platforms often feature stETH Price Reddit discussions and Lido stETH Price Twitter feeds, which are excellent resources for gauging market sentiment.

    Conclusion

    Lido Staked ETH, or stETH, is a breakthrough in the Ethereum ecosystem, offering flexibility and utility to those who wish to stake their ETH in Ethereum 2.0. By allowing users to retain liquidity while staking, Lido presents a unique solution that facilitates further integration of staking with the wider DeFi ecosystem. As such, stETH is set to play a vital role in the evolution of Ethereum, proving once again the innovation and dynamism inherent in the blockchain space.

    Lido Staked ETH Social Data

    In the last 24 hours, the social media sentiment score for Lido Staked ETH was 4.3, and the social media sentiment towards Lido Staked ETH price trend was Bullish. The overall Lido Staked ETH social media score was 710, which ranks 166 among all cryptocurrencies.

    According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Lido Staked ETH being mentioned with a frequency ratio of 0.01%, ranking 165 among all cryptocurrencies.

    In the last 24 hours, there were a total of 375 unique users discussing Lido Staked ETH, with a total of Lido Staked ETH mentions of 98. However, compared to the previous 24-hour period, the number of unique users decrease by 0%, and the total number of mentions has increase by 10%.

    On Twitter, there were a total of 6 tweets mentioning Lido Staked ETH in the last 24 hours. Among them, 100% are bullish on Lido Staked ETH, 0% are bearish on Lido Staked ETH, and 0% are neutral on Lido Staked ETH.

    On Reddit, there were 14 posts mentioning Lido Staked ETH in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 7% .

    All social overview

    Average sentiment (24h)
    4.3
    Social media score (24h)
    710(#166)
    Social contributors (24h)
    375
    0%
    Social media mentions (24h)
    98(#165)
    +10%
    Social media dominance (24h)
    0.01%
    X
    X posts (24h)
    6
    0%
    X sentiment (24h)
    Bullish
    100%
    Neutral
    0%
    Bearish
    0%
    Reddit
    Reddit score (24h)
    2
    Reddit posts (24h)
    14
    -7%
    Reddit comments (24h)
    0
    0%

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    FAQ

    Is Lido Staked ETH (stETH) a good investment?

    Lido’s Staked Ethereum, also known as stETH, is a digital asset representing ETH staked with Lido Finance, combining staking rewards with the value of the initial deposit. The asset was introduced in 2020, ahead of Ethereum’s transition to Proof-of-Stake. It serves as a liquid token, in which users deposit ETH into a smart contract on the Ethereum blockchain and receive an equivalent amount of stETH, which can be traded, exchanged, borrowed against, or used for any other purposes in Decentralized Finance (DeFi) and applications. Its accessibility, liquidity and ransparency make it an interesting option for investing into a well diversified crypto portfolio.

    What factors influence stETH token price?

    the price of stETH is influenced by several factors including accessibility, liquidity, transparency, and integration with DeFi platforms. Here’s a detailed breakdown: Accessibility: stETH provides a more accessible way for users to earn staking rewards on the Ethereum blockchain by lowering the financial barrier to staking ETH. This increased accessibility could potentially lead to higher demand for stETH, thereby influencing its price. Liquidity: Unlike traditionally staked ETH, stETH offers a liquid token that can be traded and used in applications. The liquidity of stETH makes it an attractive option for users seeking to manage and use their staked ETH without forfeiting staking rewards. The higher the liquidity and utility of stETH, the more likely it is to influence its price positively. Transparency and Daily Rebase: The transparent mechanism of stETH issuance and redemption, coupled with the daily rebase feature, adds to its appeal. The automatic balance adjustment without any accompanying transaction makes stETH user-friendly and could attract more users to hold and stake it, affecting its price. Integration with DeFi Platforms: stETH’s integration with various DeFi platforms like Curve and Yearn allows users to earn additional rewards. However, its interaction with platforms not designed for rebasable tokens like UniSwap, 1inch, and SushiSwap could result in the loss of a portion of daily staking rewards, affecting user preference and potentially stETH’s price. Market Dynamics: Like other cryptocurrencies, stETH is also likely influenced by broader market dynamics, including supply and demand, investor sentiment, market speculation, and macroeconomic factors.

    What is the use case of stETH token?

    ido’s stETH emerges primarily as a liquid staking asset on the Ethereum blockchain, offering users a simplified avenue for earning staking rewards. However, its utility extends beyond this primary function, unraveling a myriad of potential applications. Users should be vigilant, weighing the risks and rewards associated with each application of stETH. Here are some potential use cases: Hodling: Holding stETH in your wallet can be a strategic move for accumulating ETH staking rewards over time, given its nature as a convenient staking solution. Trading: stETH’s liquidity opens up avenues for trading on both decentralized and centralized exchanges, as well as through liquidity pools, enabling exchanges with ETH and other cryptocurrencies. Providing Liquidity: By contributing stETH along with ETH and other assets to liquidity pools, users not only facilitate stETH exchanges but also stand a chance to earn additional rewards as Liquidity Providers. Lending: The decentralized lending platforms like Aave offer a platform where stETH can be either used as collateral for loans or lent out, presenting an opportunity for earning supplementary income. Yield Farming: Platforms such as Yearn or Beefy Finance offer yield farming opportunities, allowing users to earn additional interest on their stETH. Diverse Applications: The versatility of stETH means it can be integrated into a range of applications that support the token, enabling users to optimize their ETH holdings without compromising on earning staking rewards.

    How to stake stETH

    You can stake your Ethereum through Lido, follow this step-by-step guide, ensuring that you have a compatible wallet like MetaMask or Ledger and some Ethereum for gas fees and staking. Step 1: Set Up a Compatible Wallet Start by setting up a compatible wallet such as MetaMask or Ledger. Ensure you have some Ethereum in it to cover network gas fees and the amount you wish to stake. Step 2: Connect to Lido Staking Platform Navigate to Lido Staking Platform. In the top right corner, click on “Connect Wallet”. Read and accept the terms and conditions. Step 3: Select Your Wallet Choose the wallet you're using; for this guide, we’ll use MetaMask. Step 4: Confirm Wallet Connection Make sure your wallet is connected to the Ethereum Mainnet. Select the account, click “Next”, and then “Confirm”. Your dashboard will now display available ETH for staking, current staked amount, Lido APR, and expected rewards. Step 5: Stake Your ETH Enter the amount of ETH you wish to stake and click “Submit”. Remember to retain some ETH in your wallet for gas fees. If using MetaMask, review and confirm the transaction details. Step 6: Receive stETH Once the transaction is complete, an equivalent amount of stETH will be deposited into your wallet. This represents your staked ETH and you will begin earning staking rewards. These rewards are updated daily and will reflect in your stETH balance. Step 7: Check Your stETH Balance If you can’t see your stETH in MetaMask, you might need to add it manually. Check the Lido platform for assistance if needed.

    Can I make money from staking stETH?

    Yes, it is possible to generate money from staking on Lido’s platform. When users stake Ethereum, they receive stETH in return, which represents their staked amount. Users then earn staking rewards, which are updated in their stETH balance daily. Additionally, stETH can be used in various ways, such as trading, providing liquidity, lending, and yield farming, potentially allowing users to earn additional income. However, it's important to consider the risks involved in these activities and to proceed with caution.

    How do staking rewards work on stETH?

    In the context of staking cryptocurrencies like Ethereum, rewards work as an incentive for users who contribute to the security and functionality of the network. Here’s a general explanation of how staking rewards work, with a focus on stETH, a liquid staking token representing staked Ethereum on the Lido platform: Staking: Users stake their cryptocurrency (e.g., Ethereum) on a staking platform like Lido. Upon staking, users receive stETH tokens representing their staked Ethereum. Earning Rewards: The staked Ethereum is used by the network validators to secure the blockchain and validate transactions. For their contribution, validators earn new Ethereum tokens generated by the network as rewards. These rewards are distributed proportionally to all stETH holders. Daily Rebase: For stETH holders on Lido, the rewards are embodied through a balance rebase. This means that the stETH balance in users' wallets increases daily to reflect the earned rewards, without any transactions being made. Users can see their stETH balance change automatically, representing the accumulation of staking rewards. Utilizing Rewards: Users can choose to hold their stETH and continue accumulating rewards. Alternatively, they can trade stETH for other cryptocurrencies, use it in DeFi applications, lend it, or participate in yield farming for additional income. Users need to be mindful of the associated risks when using stETH in various applications. Redemption: Once Ethereum 2.0 fully supports withdrawals, users will be able to redeem their stETH for the original Ethereum plus the accumulated rewards.

    What is the current price of Lido Staked ETH?

    The live price of Lido Staked ETH is $2,218.12 per (stETH/USD) with a current market cap of $20,829,505,662.68 USD. Lido Staked ETH's value undergoes frequent fluctuations due to the continuous 24/7 activity in the crypto market. Lido Staked ETH's current price in real-time and its historical data is available on Bitget.

    What is the 24 hour trading volume of Lido Staked ETH?

    Over the last 24 hours, the trading volume of Lido Staked ETH is $219.93M.

    What is the all-time high of Lido Staked ETH?

    The all-time high of Lido Staked ETH is $4,982.43. This all-time high is highest price for Lido Staked ETH since it was launched.

    Can I buy Lido Staked ETH on Bitget?

    Yes, Lido Staked ETH is currently available on Bitget’s centralized exchange. For more detailed instructions, check out our helpful How to buy Lido Staked Ether guide.

    Can I get a steady income from investing in Lido Staked ETH?

    Of course, Bitget provides a strategic trading platform, with intelligent trading bots to automate your trades and earn profits.

    Where can I buy Lido Staked ETH with the lowest fee?

    Bitget offers industry-leading trading fees and depth to ensure profitable investments for traders. You can trade on the Bitget exchange.

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    Cryptocurrency investments, including buying Lido Staked ETH online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy Lido Staked ETH, and we try our best to fully inform our users about each cryptocurrency we offer on the exchange. However, we are not responsible for the results that may arise from your Lido Staked ETH purchase. This page and any information included are not an endorsement of any particular cryptocurrency. Any price and other information on this page is collected from the public internet and can not be consider as an offer from Bitget.

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    North Korean Lazarus Group Likely Behind $1.46 Billion Bybit Exchange Hack
    With not all information public, Arkham Intelligence, a blockchain analysis firm, has concluded that North Korea’s Lazarus group was responsible for the $1.46 billion hack on the Bybit exchange. On platform X, Arkham offered a bounty of 50,000 ARKM tokens, worth around $30,000, for anyone who could identify the attackers responsible for Friday’s hack. Not long after, Arkham announced that freelancer ZachXBT had provided “definite proof” that the North Korean hacking group was behind the hack. According to current information, Lazarus, North Korea’s elite state-sponsored hacking group, pulled off the largest hack in history on a centralized crypto exchange. The hack resulted in the withdrawal of Ethereum tokens amounting to around $1.5 billion. Ethereum security researchers are scrambling to investigate the incident to understand how the attack happened and whether the hack may spread to other exchanges. Within days, crypto enthusiast ZachXBT identified the Lazarus group as the likely culprit. Lazarus has been responsible for many of the top attacks on digital assets. Blockchain firm Nansen revealed that the attackers first withdrew the funds into a single wallet and then distributed them to multiple wallets. “Initially, the stolen funds were transferred to a primary wallet, which then distributed them across more than 40 wallets”, Nansen said. “The attackers converted all stETH, cmETH, and mETH to ETH before systematically transferring ETH in $27 million increments to over 10 additional wallets”. Ben Zhou, Bybit CEO, urged customers to remain calm and assured them that 80% of funds were recovered by using bridge loans to replace the stolen money. Despite the current bank run on Bybit, Zhou assured users that withdrawals would not be blocked and that customers would have access to their funds. Leveraging bridge loans allows Zhou to honour withdrawal requests. At this stage, the return of stolen tokens is highly unlikely. ZachXBT has yet to release all data pointing to the Lazarus group. He says his analysis involved tracking online connections between wallet addresses until, with the assistance of a colleague, he was able to narrow down the suspects to the North Korean hacking group. ZachXBT found a connection between the wallets used in the Bybit hack and the wallets used in the $85 million hack of Singapore-based exchange Phemex. At this stage, at least, the attack appears to be caused by Blind Signing, in which the smart contact is approved without complete knowledge of its contents. “This attack vector is quickly becoming the favorite form of cyber attack used by advanced threat actors, including North Korea”, said Blockaid’s CEO Ido Ben Natan. “It’s the same type of attack that was used in the Radiant Capital breach and the WazirX incident.” “The problem is that even with the best key management solutions, today most of the signing process is delegated to software interfaces that interact with dApps.” “This creates a critical vulnerability- it opens the door for malicious manipulation of the signing process, which is exactly what happened in this attack,” he said. The stolen funds are unlikely to be returned because North Korea does not have an extradition agreement with the United States. The North Korean hacking group was able to attain more money in this single hack than in all of its hacks last year. This hack contrasts with other previous large-scale attacks, such as the 2016 Bitfinex hack, in that the people behind this attack will likely get away with it and will most likely keep the stolen money. This shows that the American justice system is limited to countries with extradition agreements. Although America focuses on retrieving lost funds through tax, there’s not much they can do about large-scale hacks. Tom Robinson, Elliptic’s chief scientist, described the attack as the “largest crypto theft of all time.” “The next largest crypto theft would be the $611 million stolen from Poly Network in 2021. In fact it may even be the largest single theft of all time”. Bybit appears to be processing withdrawals just fine after their hack,” wrote Coinbase executive Conor Grogan. They have $20B+ in assets on the platform, and their cold wallets are untouched. “Given the isolated nature of the signing hack and how well capitalized Bybit is, I don’t expect there to be contagion.” “A minute into the FTX bankrun it was clear they had no funds to withdraw. I know everyone has PTSD but Bybit is not an FTX situation, if it was I would be screaming it out. They will be fine”. The Lazarus group’s history can be traced back to 2017 when they hacked South Korean exchanges and stole over $200 million in Bitcoin. Crypto bank robberies seem to be here to stay and will need to be a major focus within the crypto industry.
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    North Korea Cybercrime: Millions in Stolen Crypto Fueling Missile Program
    North Korea has laundered $170 million in stolen cryptocurrency from 49 hacks (2017-2021). Laundered funds are used to support North Korea’s nuclear and missile programs. Cyberattacks generate about 50% of North Korea’s foreign currency income. North Korea’s cybercrime activities have been under scrutiny for years. Recent reports show that stolen digital assets continue to be used to fuel the country’s illicit operations. Specifically, the Lazarus Group, a notorious hacking group linked to North Korea, has stolen millions of dollars in digital assets. These funds are passed through a series of delicate processes to fund the regime’s nuclear and missile programs. If you want to understand what happens to funds after they’re stolen by North Korea/Lazarus Group, the Chainalysis 2022 report is great Step 1: Swap any ERC20s (like stETH) into ETH Step 2: Swap any ETH into BTC Step 3: Cash out BTC to cash (Chinese Renminbi) using Asian… pic.twitter.com/cmxUEAHRZN — Eric Wall | BIP-420 (@ercwl) February 21, 2025 $170 Million in “Unused” Crypto Stolen Since 2017 Between 2017 and 2021, North Korea collected $170 million in unused cryptocurrenc… The post North Korea Cybercrime: Millions in Stolen Crypto Fueling Missile Program appeared first on Coin Edition.
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    Announcement on Resumption of STETH-ERC20, FORT-ERC20 Network Withdrawal Services | Bitget Support Center https://www.bitget.com/support/articles/12560603823128
    STETH-3.87%
    FORT-5.88%
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    ByBit CEO: ‘We Can Cover 100% of the Stolen Ethereum’
    Ben Zhou, Bybit CEO, assured the public that user funds were safe and that the platform could cover losses following the largest crypto exchange hack in history. Security veterans and concerned crypto community members rallied behind Bybit on Friday, Feb. 21, after the exchange lost over $1.4 billion to hackers. The largest-ever crypto exchange hack occurred while Bybit was attempting a routine transfer, Zhou said during a livestream following the incident. Specific details about the breach points remain scarce. However, initial reports suggest that hackers tricked Bybit’s signers into authorizing a malicious transaction from the platform’s Ethereum (ETH) cold wallet. Just in: According to @zachxbt, Bybit faced a security incident (likely hacked) where $1.44B worth of funds were withdrawn.401,347 $ETH worth $1.12B90,376 $stETH worth $253.16M15,000 $cmETH worth $44.13M8,000 $mETH worth $23MLater, these funds were moved to another wallet.… pic.twitter.com/FAuoRx3Rri — Onchain Lens (@OnchainLens) February 21, 2025 You might also like: Bybit’s ETH cold wallet exploited for $1.46b Bybit employs a multi-sig structure designed by Safe to manage its ERC-20 token reserves. This wallet requires multiple team members to sign off on transactions before execution. OxCygaar, a blockchain developer and Abstract Chain contributor, theorized that bad actors attacked each signer and somehow used malware to alter the multi-sig UI. The ramifications of this scenario are ghastly, as it means the hackers may have individually identified each signer and compromised their computers or crypto wallets. idk how they knew the multisig signers, but this type of attack has happened in the past.requires identifying each signer and then getting them to unknowingly install malware so their multisig ui is compromised — cygaar (@0xCygaar) February 21, 2025 Community backs Bybit, CEO sources bridge loan ARKM tokens for any information leading to the hacker’s identification. Additionally, Safe, Bybit’s multi-sig provider, announced ongoing maintenance to strengthen safety. NEW ARKHAM INTEL BOUNTY: BYBIT HACKWe’ve created & funded a bounty to help identify the person or organization behind today’s >$1B Bybit hack.Submissions to this bounty will be shared with the Bybit team to support their investigation.Reward: 50K ARKMBounty:… pic.twitter.com/1X3QgmRdda — Arkham (@arkham) February 21, 2025 Also, Zhou said Bybit was working with other industry players like Binance, OKX, and KuCoin and law enforcement to reach a resolution. “We have filed a police report,” Zhou shared on the livestream. Zhou and Shunyet Jan, Bybit’s head of derivatives, also revealed that the exchange is negotiating a bridge loan with partners to restore Ethereum withdrawals. According to Jan, the platform will offer collateral from its treasury, primarily in Bitcoin (BTC) and stablecoins. However, Zhou emphasized that Bybit can fully cover the loss, noting that the exchange manages over $20 billion in assets. Bybit’s leadership urged the crypto community to remain patient amid platform congestion, reassuring users that other ERC-20 withdrawals and normal operations continue as usual. 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. — Ben Zhou (@benbybit) February 21, 2025 Read more: Safe wallet pauses certain functionalities after Bybit hack
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    CryptoPotato
    CryptoPotato
    2025/02/22 15:10
    ByBit Lost 70% of Ethereum Holdings to Hacker, Says CEO
    Bybit CEO Ben Zhou confirmed in a Friday livestream that the $1.5 billion hack against his crypto exchange lost the firm the vast majority of its customers’ ETH holdings. “I believe it was around seventy percent,” Zhou told viewers, when asked how much was lost relative to the company’s ETH assets under management. “We normally keep sixty to seventy prevent in the cold wallets, and I believe this was the amount.” What Caused The Hack? The breach, first flagged by on-chain sleuth ZachXBT and other high profile accounts on Friday, saw over 400,000 Ether suspiciously leave Bybit’s cold wallet address, before rapidly being swapped its staked mETH and stETH tokens for ETH. Security experts at Cyvers told CryptoPotato that the hackers tricked those controlling the keys to Bybit’s cold wallet into signing a malicious transaction which, from the signers’ perspectives, looked honest at the time. Jack Sanford, CEO of Sherlock DeFi, had similar findings, said the transaction would have changed the rules of the multisig wallet’s smart contract to bend to the hackers’ wishes. Exact details on how the signers were fooled remain unknown. “The UI itself could have been compromised, [or] Each of these honest people could have had their actual computer compromised,” wrote Sanford. ZachXBT, a popular on-chain detective for large crypto hacks, submitted “definitive proof” on Friday that the hack was pulled off by the North Korean “Lazarus Group,” according to Arkham Intelligence. Lazarus are the most notorious hackers in the world, attacking several major crypto exchanges in the past. “TLDR myself and Josh from CF connected the Bybit hack on-chain to the Phemex hack,” said ZachXBT in response. Can Bybit Cover The Loss? Despite the seismic loss, Zhou assured followers in a tweet that all client losses remained covered by the exchange. “All client assets are 1:1 backed—we can cover the loss.” Zhou added during the stream that the exchange is reaching out to its partners in search of a “bridge loan” to support its liquidity needs as it processes “massive withdrawals” in the short term. “We actually already secured almost 80% of the Ethereum that’s been stolen as a bridge loan, to help us with the liquidity crunch.” So far, Zhou has resisted the idea of pausing exchange withdrawals. Binance co-founder Changpeng Zhao suggested that Bybit do so as a precaution – even if it spurs more fear in the market – offering his own aid if required. “1.5 billion is fear enough,” he said. “Better to be safe than sorry now.” More lightheartedly, BitMEX co-founder Arthur Hayes called on Ethereum co-founder Vitalik Buterin to “roll back the chain” to support Bybit – an action Ethereum leaders coordinated ten years ago in response to the DAO hack. The post ByBit Lost 70% Of Ethereum Holdings To Hacker, Says CEO appeared first on CryptoPotato.
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