There is “definitive proof” North Korean cyber thugs were behind a £1bn cyrptocurrency, according to analysts. Kim Jong-un’s heartless cyber goons broke into an Ethereum wallet, wiping all of its contents in a brazen theft being dubbed the ‘worst hack in history’.

The heist took place on Bybit, a Dubai-based crypto exchange which holds over £15bn in assets. The hackers made off with the funds by transferring the cash into an unidentified address.

Blockchain analysts Arkham Intelligence now say they have irrefutable evidence the Lazarus Group, a notorious group of hackers with close links to the North Korean regime, carried out the attack.

In a post on social media, the firm said the tip-off came from one of their trusted online sleuths gave. Despite the claims, officials, including Bybit’s chief executive, Ben Zhou, are yet to confirm who carried out the attack.

Zhou said Bybit would remain solvent even if the hacked funds are never recovered. He also said the company would cover clients’ funds, adding their assets were “1 to 1 backed”.

He described the cyber attack as “the worst hack in history” and confirm the company has received more than 350,000 withdrawal requests since it happened.

Bybit said it had reported the crime to police and said it was working “quickly and extensively” to find the criminals. It has also set a bounty worth 10per cent of the stolen funds, or up to £110m ($140m).

In a statement, Zhou said: “Within 24 hours of the event, we were overwhelmed with support from some of the best people and organizations in the industry, and we do not take it for granted. We have shared in a dark moment of crypto history, and we’ve proven we are better than the malicious actors.

“We want to officially reward our community who lent us their expertise, experience and support through the Recovery Bounty Program, and our efforts to make this difficult lesson a valuable one does not stop here. Bybit is determined to rise above the setback and fundamentally transform our security infrastructure, improve liquidity, and be a steadfast partner to our friends in the crypto community.”

Individuals and organisation that want to take part are being asked to email the company. The value of Ethereum dropped by 4pc on Friday following reports of the attack.

It comes as North Korea is suspected to have been behind an estimated £800m loot in 2024, according to Redbord. In 2022, the pariah state is believed to have stolen an estimated £1.7bn, according to threat intelligence platform Recorded Future