The post Bybit CEO: Two-Thirds of Funds From $1.4B Lazarus Group Hack Still Traceable appeared on BitcoinEthereumNews.com.

In brief Over two-thirds of the crypto stolen in the Bybit hack remains traceable, the firm’s CEO said. 27.59% of the stolen funds has “gone dark.” The $1.4 billion hack by North Korea’s Lazarus Group was the biggest in crypto history. Over two-thirds of the $1.4 billion stolen in the largest crypto hack to date, the Bybit breach, remains traceable, despite hackers using an array of mixing services to cover their tracks, according to a new update from the exchange’s CEO. In an executive summary tweeted Monday, Bybit CEO Ben Zhou broke down the flow of roughly 500,000 ETH stolen in February, revealing that 68.57% of the funds remain traceable, 27.59% have “gone dark”, and 3.84% have been frozen with the help of exchanges. 4.21.25 Executive Summary on Hacked Funds:Total hacked funds of USD 1.4bn around 500k ETH. 68.57% remain traceable, 27.59% have gone dark, 3.84% have been frozen. The untraceable funds primarily flowed into mixers then through bridges to P2P and OTC platforms. Recently, we have… — Ben Zhou (@benbybit) April 21, 2025 The latest report shows how North Korea’s Lazarus Group, a hacking collective the FBI has officially linked to the theft, has tried to obscure its money trail since the hack. The group primarily used coin mixers like Wasabi mixer before funneling funds through CryptoMixer, Tornado Cash, Railgun, and a slew of cross-chain platforms like Thorchain and Stargate, the CEO said. Zhou said a large portion of the stolen ETH, about 432,748 ETH, or 84.45%, was converted into Bitcoin using Thorchain, with 67.25% distributed across over 35,000 wallets. 5,991 ETH, or about $16.77 million, remains on the Ethereum blockchain today, scattered across 12,490 wallets with an average of 0.48 ETH each. On the Bitcoin side, 944 BTC, valued at $90.6 million, has been funneled through Wasabi Mixer…

---

Filed under: News - @ April 22, 2025 12:29 pm