Bybit Hack: 88% of Stolen $1.5 Billion Funds Remain Traceable
Ben Zhou, co-founder of the crypto exchange Bybit, reported that 88% of the $1.5 billion stolen during a February 2025 hack remains traceable. Despite the breach, which primarily involved liquid-staked Ether (stETH) and other cryptocurrencies, blockchain investigators are actively working to recover these funds.
- The hackers, believed to be associated with North Korea’s Lazarus Group, have struggled to obscure the funds' traceability.
- According to Zhou, out of the hacked funds, 7.59% have gone dark, while 3.54% have been frozen.
- Bybit has received over 5,000 bounty reports in the past month, with 63 deemed valid.
- The exchange has allocated $2.2 million in rewards to bounty hunters for useful information regarding the recovery.
- Bybit is offering a 10% bounty on any recovered funds as an incentive for white hat hackers and investigators.
Efforts continue as blockchain security experts remain hopeful about freezing more of the stolen assets despite challenges posed by various crypto mixers used by the hackers.