Bybit CEO: Two-Thirds of Funds From $1.4B Lazarus Group Hack Still Traceable
Over two-thirds of the $1.4 billion stolen in the Bybit hack remains traceable, with 68.57% of the 500,000 ETH identifiable. The Lazarus Group, linked to North Korea, obscured the funds' trail using mixers like Wasabi and CryptoMixer. Approximately 432,748 ETH (84.45%) was converted to Bitcoin via Thorchain, with 67.25% spread across over 35,000 wallets. Currently, 5,991 ETH is left on the Ethereum blockchain across 12,490 wallets. On the Bitcoin side, 944 BTC has passed through Wasabi Mixer. Bybit's Lazarus Bounty program received 5,443 reports, with 70 validated tips. The CEO warned that mixer activity is expected to increase as funds exit the blockchain. eXch, a privacy-focused exchange accused of facilitating laundering for Lazarus, will shut down on May 1.
