Bybit News: Lazarus Group Orchestrates Historic Crypto Heist; Bybit CEO Claims Near Recovery of Stolen Funds

In a stunning development in the world of cryptocurrency, Bybit, a major exchange, faced the biggest crypto breach ever recorded. Here’s what happened and the latest updates on the stolen funds.

Lazarus Crypto Heist: Bybit CEO Claims Nearly 90% of Stolen Funds Traceable

The Bybit hack on February 21st has been deemed the biggest crypto breach in history, with the exchange losing over $1.4 billion in digital assets, primarily Ether. Authorities revealed that North Korea’s Lazarus Group was responsible for the heist. It was also disclosed that Bybit ignored security flaws months before the incident, allowing the group to compromise the cold wallet. In the latest update, Bybit’s Ben Zhou stated that around 88.87% of the stolen funds are still traceable, with 3.54% frozen and 7.59% on the dark web.

Bybit Hack: Majority of Stolen $1.4B Can Still Be Tracked

Bybit CEO Ben Zhou has disclosed that 88.87% of the $1.4 billion stolen in the Bybit hack remains traceable. The hack has been linked to North Korea’s Lazarus Group. Approximately $550,000 worth of Ethereum (ETH) remains traceable, while 7.59% of the stolen funds have become untraceable and 3.54% have been frozen. The hacker used mixers such as Wasbi, CryptoMixer, Railgun, and TornadoCash. The stolen assets were converted into 12,836 Bitcoin.