Bybit CEO: two -thirds of the funds of $ 1.4 billion Lazarus Group Hack still traceable

More than two-thirds of the $ 1.4 billion stolen in the largest crypto-hack so far, the Bybit infringement, remains traceable, despite the fact that hackers use a series of mixed services to cover their tracks, according to a new update of the CEO of the Exchange.

In one Executive summary Monday tweeted Bybit CEO Ben Zhou broke the current of approximately 500,000 ETH stolen in February, which showed that 68.57% of the funds remain traceable, 27.59% have become “being tested” and 3.84% is frozen with the help of exchanges.

The latest report shows how the Lazarus Group in Noord -Korea, a hacking collective that the FBI has officially linked to the theft, has tried to cover his money path since the hack.

The group mainly used mint mixers such as Wasabi Mixer before they received funds through cryptomixer, Tornado Cash, Railgun and a whole series of cross-chain platforms such as Thorchain and Stargate, the CEO said.

Zhou said that a large part of the stolen ETH, around 432,748 ETH, or 84.45%, was converted into Bitcoin with Thorchain, with 67.25% spread over more than 35,000 portfolios.

5,991 ETH, or about $ 16.77 million, remains today on the Ethereum -Blockchain, spread over 12,490 portfolios with an average of 0.48 ETH.

On the Bitcoin side, 944 BTC, with a value of $ 90.6 million, is led by the Wasabi mixer alone.

Zhou also confirmed that 531 BTC, equal to approximately 18,206 ETH or 3.57% of the stolen assets, has since been bridged back to Ethereum via Thorchain.

Many of the assets eventually landed at OTC agencies and peer-to-peer FIAT fairs, Zhou added.

Bybit’s Lazarus Bounty program, launched shortly after the hack, has received 5,443 reports in the last 60 days, 70 of which are validated as legitimate tips, according to Zhou.

The exchange “Welcome more reports,” said Zhou, and that they “would need a lot of help there on the road” from bodies hunters.

In the first summary released last month, Zhou expressed his concern that Lazarus had already led 193 BTC by Wasabi at the time and noted that the stolen ETH was washed by several layers to make recovery more difficult.

The Bybit -CEO warned that mixer activity would probably increase, and added that “the trend will grow” as more funds try to leave the blockchain.

Bybit did not respond immediately Decrypts Request for comments.

In the meantime, Exch, a privacy-oriented crypto exchange that had previously been rejected that money laundering with regard to the hack on Thursday announced that it will close the activities on 1 May.

The closure follows on allegations that the exchanging of money laundering facilitated the Lazarus Group of Noord -Korea; in an e -mail to DecryptThe exchange acknowledged that the “huge part” had processed from the stolen Ethereum washed by “multiple centralized and decentralized services”.