{"id":22944,"date":"2025-04-21T06:17:08","date_gmt":"2025-04-21T06:17:08","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22944"},"modified":"2025-04-21T06:17:08","modified_gmt":"2025-04-21T06:17:08","slug":"over-380m-worth-of-crypto-stolen-during-bybits-1-4b-hack-has-gone-dark","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22944","title":{"rendered":"Over $380M Worth of Crypto Stolen During Bybit&#8217;s $1.4B Hack Has Gone Dark"},"content":{"rendered":"<div>\n<p>Cryptocurrency exchange Bybit&#8217;s CEO Ben Zhou said that 27.95% of the funds lost in the $1.4 billion exploit engineered by the North Korean Lazarus Group have gone dark or become untraceable.<\/p>\n<p>&#8220;Total hacked funds of USD 1.4bn around 500k ETH. 68.57% remain traceable, 27.59% have gone dark, 3.84% have been frozen. The untraceable funds primarily flowed into mixers then through bridges to P2P and OTC platforms,&#8221; Zhou said in an executive summary published on X on Monday.<\/p>\n<p>The untraceable funds were moved into mixers before being transferred through bridges to P2P (peer-to-peer) and OTC (over-the-counter) platforms, the post explained, mentioning the use of Wasabi, a crypto mixer, to wash off a certain amount of BTC, following which a portion of these funds entered into other mixers, including Railgun, Tornado Cash and CryptoMixer.<\/p>\n<p>The malicious entity then executed multiple cross-chain swaps through Thorchain, eXch, Lombard, LiFi, Stargate and SunSwap, with the final stage involving the conversion of these illicit funds into more liquid assets.<\/p>\n<p>The North Korea-linked Lazarus Group hacked Bybit in February, draining 500,000 ether (ETH) by taking &#8220;control of the specific ETH cold wallet and transferring all the ETH in the cold wallet to this unidentified address.&#8221;<\/p>\n<p>Forensics reveal that of the hacked funds, a total of 432,748 ETH, representing 84.45%, has been transferred from ether to bitcoin via Thorchain. Notably, 67.25% of these funds, amounting to 342,975 ETH (around $960.33 million), has been converted into 10,003 BTC and distributed across 35,772 wallets with an average of 0.28 BTC per wallet.<\/p>\n<p>Further, 1.17% of the funds, or 5,991 ETH (approximately $16.77 million), remains on the Ethereum blockchain, stashed across 12,490 wallets.<\/p>\n<p>Lastly, the Lazarus Bounty initiative has received 5,443 bounty reports in two months, of which, 70 have been deemed valid. Zhou said the exchange needs &#8220;more bounty hunters that can decode mixers as we need a lot of help there down the road.&#8221;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange Bybit&#8217;s CEO Ben Zhou said that 27.95% of the funds lost in the $1.4 billion exploit engineered by the North Korean Lazarus Group have gone dark or become untraceable. &#8220;Total hacked funds of USD 1.4bn around 500k ETH. 68.57% remain traceable, 27.59% have gone dark, 3.84% have been frozen. The untraceable funds primarily [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22944","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22944"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22944\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}