- Bybit CEO Ben Zhou confirms 88.87% of Lazarus Group’s $ 1.4B theft remains traceable.
- The hackers changed most of the stolen ETH in 12,836 BTC and spread it over 9,117 wallets.
Ben Zhou CEO Bybit revealed On Thursday, 88.87% of the $ 1.4 billion remained from the exchange remains traceable, despite North Korea’s Lazarus group’s efforts to hide the funds with Bitcoin mixers.
The stolen assets, including 500k ETH, were mostly converted to 12,836 BTC and scattered over 9,117 wallets. Zhou, who shared a detailed division of X, found that 3.54% of stolen funds have already been frozen, while 7.59% have disappeared in the dark web. However, investigators believe that much of the stolen crypto can still be recycled.
According to Zhou, 86.29% of Stolen assets– 440 091 ETH worth $ 1.23 billion – Swatch for Bitcoin and is distributed over thousands of wallets. The hackers quickly moved the funds through mixers such as Wasabi, Cryptomixes, Railgun and Tornado Cash to avoid tracking. At least the hackers hooked at least 193 BTC in Wasabi before spreading to peer-to-peer suppliers.
Bybit Hack: Tracking efforts and Bounty Hunter engagement
The attack, which took place on February 21, was the largest in the Crypto history and exceeded Poly Network chop of $ 600 million in 2021. Despite the hackers’ attempt to cover its tracks, Blockchain has security companies, including Arkham Intelligence, identified Lazarus Group as the primary suspect.
In an update of March 20, Zhou emphasized the challenge of decoding transactions treated through mixers. He also encouraged Bounty Hunters to help track the funds. Reveals that Village Has received over 5,000 Bounty reports, with 63 proven valid.
The hackers washed a significant portion of the funds through decentralized protocols like Thorchain within ten days. But security experts remain hopeful about freezing and recovery of more assets.
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