Bybit CEO Updates on $1.4 Billion Hack by North Korea’s Lazarus Group: 68.57% of 500k ETH Traceable

Bybit CEO Ben Zhou has provided an update on the $1.4 billion hack attributed to North Korea’s Lazarus Group, revealing that 68.57% of the stolen funds, totaling around 500,000 ETH, remain traceable, while 27.59% have gone dark and 3.84% have been frozen. The untraceable portion of the funds has been moved through mixers, including Wasabi mixer, and then through bridges to peer-to-peer (P2P) and over-the-counter (OTC) platforms. Zhou detailed that the hackers used various mixers to launder the funds. A significant amount of the stolen Ethereum, approximately 432,748 ETH, was converted into Bitcoin using Thorchain, with 67.25% distributed across over 35,000 wallets. Additionally, 5,991 ETH, valued at about $16.77 million, remains on the Ethereum blockchain, spread across 12,490 wallets with an average of 0.48 ETH each. On the Bitcoin side, 944 BTC, worth $90.6 million, was funneled through Wasabi Mixer alone, and 531 BTC, equivalent to around 18,206 ETH or 3.57% of the stolen assets, was bridged back to Ethereum via Thorchain. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant