Bybit Hackers Launder Over $605 Million in Ethereum After Exposure
Hackers involved in the Bybit exploit have laundered over $605 million in Ethereum. The perpetrators, identified as North Korea's Lazarus Group, are responsible for various high-profile crypto heists.
Laundering Details
- The hackers transferred approximately 270,000 ETH, constituting 54% of the $1.4 billion stolen from Bybit.
- The laundering began shortly after the attack on February 21; by February 25, around $335 million had been moved.
- As of now, they control 229,395 ETH, valued at about $514 million.
- THORChain has seen a spike in activity due to its use in laundering efforts, processing over $1 billion shortly after the hack.
Bybit's security breach occurred through vulnerabilities in Safe Wallet’s multi-signature wallet provider. Despite this, Bybit continues operations without disruptions and has launched a bounty program to recover stolen funds.
Bounty Program
- The program aims to incentivize information leading to the capture of the hackers, with over $4 million already distributed in rewards.
- Plans exist to extend support to other victims affected by the Lazarus Group.