Bybit CEO: Two-thirds of Lazarus-hacked funds remain traceable
Almost 70% of the stolen Bybit funds “remain traceable,” said CEO Ben Zhou, who is pinning his hopes on bounty hunters to decipher crypto mixers used to launder the loot.
Crypto exchange Bybit co-founder and CEO Ben Zhou says more than two-thirds of the digital assets stolen from the platform in February by North Korea’s Lazarus Group still remain traceable.
In an executive summary on hacked Bybit funds posted on X on April 21, Ben Zhou said that of the total $1.4 billion hacked, 68.6% “remains traceable,” 27.6% has “gone dark,” and 3.8% has been frozen.
The untraceable funds primarily flowed into mixers, then through bridges to peer-to-peer and over-the-counter platforms, he added.