The post Bybit Hackers Laundered $113 Million in 24 Hours appeared on BitcoinEthereumNews.com.

The hackers have another 363,900 ETH (~$900 million) stored at their address. If they continue at the same rate, the remaining assets will be withdrawn within 8-10 days. The total amount laundered has reached 135,000 ETH (~$335 million). Beosin researchers reported that the Bybit hacker started using Maya Protocol to transfer stolen assets. Bybit CEO Ben Zhou announced the launch of a website to track the activities of North Korean hacker group Lazarus Group, which Arkham Intelligence experts linked to the platform hack. He called the initiative a “bounty hunt.” The resource collects information about laundering schemes, and also offers mechanisms to combat attackers. Users can connect their wallets and join the search for illegal funds. If assets are successfully blocked, the reward is paid automatically. “Freezers” receive 5% of each bounty. The platform also provides ratings of bona fide participants in the crypto industry. In the future, it is planned to add tools for regulators and balance tracking on “live” Lazarus wallets. The platform promises not to stop until the actions of hackers and their partners are not completely stopped. What Caused The Bybit Hack – The Largest In History? “Incorrect EVM design” was the cause of the Bybit hack. This is the conclusion reached by Blockstream co-founder and cypherpunk Adam Back. According to the exchange’s official statement, the incident occurred when transferring ETH from cold multisig storage to a hot wallet. Attackers tampered with the transaction signing interface so that all participants in the procedure saw the correct address. At the same time, the logic of the smart contract was changed and the hackers gained control of the Ethereum wallet. “EVM can drop to zero and nobody cares. The problem is that the Ethereum Virtual Machine hurts trust in the ecosystem, which unfairly reflects on bitcoin,” the expert…

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Filed under: News - @ February 26, 2025 12:20 pm