Bybit’s CEO Ben Zhou Says Nearly 28% Funds From $1.4B Hack Have Gone Dark
Cryptocurrency exchange Bybit’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.
“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,” Zhou said in an executive summary published on X on Monday.
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…
