{"id":23002,"date":"2025-04-21T12:46:48","date_gmt":"2025-04-21T12:46:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=23002"},"modified":"2025-04-21T12:46:48","modified_gmt":"2025-04-21T12:46:48","slug":"bybit-ceo-says-over-390m-of-stolen-1-4b-in-lazarus-hack-now-untraceable","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=23002","title":{"rendered":"Bybit CEO Says Over $390M Of Stolen $1.4B In Lazarus Hack Now Untraceable"},"content":{"rendered":"
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Bybit CEO Ben Zhou revealed that nearly 28% of the $1.4 billion stolen in the February 2025 hack linked to North Korea\u2019s Lazarus Group has become untraceable. <\/span><\/p>\n

In a <\/span>summary shared on X on Monday<\/span><\/a>, 21 April 2025, Zhou detailed how the attackers successfully obfuscated over $390 million worth of crypto using a complex chain of mixers, cross-chain bridges, and OTC platforms.<\/span><\/p>\n

Zhou said that of the total 500,000 ETH stolen, around 68.57% remains traceable. Meanwhile, 27.95% has \u201cgone dark\u201d and just 3.84% has been frozen. <\/span><\/p>\n

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Lazarus Laundered Funds Through Mixers Like Wasabi, Tornado Cash, and Railgun<\/span><\/h2>\n

The laundered funds were first routed through privacy-enhancing mixers such as Wasabi. They were then moved via other mixers like Tornado Cash, Railgun, and CryptoMixer. <\/span><\/p>\n

From there, the attackers used cross-chain bridges and platforms including Thorchain, eXch, LiFi, Stargate, Lombard, and SunSwap to convert the funds into more liquid assets.<\/span><\/p>\n

The hack, which involved full control over a specific ETH cold wallet, saw the entire 500,000 ETH drained to an unknown address. Forensic analysis revealed that 432,748 ETH\u2014about 84.45% of the stolen amount\u2014was swapped from Ether to Bitcoin using Thorchain. <\/span><\/p>\n

Of that, 342,975 ETH (roughly $960 million) was converted into 10,003 BTC and distributed across more than 35,700 wallets, each holding an average of 0.28 BTC.<\/span><\/p>\n

Zhou noted that a smaller portion\u20141.17% of the stolen funds or 5,991 ETH\u2014remains on the Ethereum network, spread across 12,490 wallets.<\/span><\/p>\n

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4.21.25 Executive Summary on Hacked Funds:
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.
Recently, we have\u2026<\/p>\n

\u2014 Ben Zhou (@benbybit) April 21, 2025<\/a><\/p>\n<\/blockquote>\n