From Cointelegraph

April 21, 2025 01:54 AM:

Crypto exchange Bybit’s CEO Ben Zhou reports that more than two-thirds of the $1.4 billion stolen in February is still traceable after being hacked by North Korea’s Lazarus Group. The stolen funds flowed into mixers and peer-to-peer platforms, with BTC worth $90 million going through the Wasabi mixer.

Zhou confirmed that 944 BTC worth around $90 million went through the Wasabi mixer, with 27.6% of the stolen funds going dark and 3.8% being frozen. Around $1.2 billion worth of stolen crypto is still being tracked, with multiple crosschain and swap services utilized in the laundering process.

In response to the hack, Bybit has paid out $2.3 million in bounties to 12 hunters, with most going to the Mantle platform. Bybit launched the Lazarus Bounty program in February, offering a total of $140 million in rewards for information leading to funds being frozen. The exchange is seeking more bounty hunters to assist in decoding mixers.

The eXch crypto exchange announced it would cease operations on May 1 after reports alleged it was used to launder funds from the Bybit hack. Bybit continues to track the $1.4 billion worth of stolen crypto, with efforts ongoing to freeze the funds and prevent further laundering.

Read more at Cointelegraph.com

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