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.
In February, hackers associated with the Lazarus Group exploited vulnerabilities in Bybit’s cold wallet infrastructure, stealing $1.4 billion in the largest crypto exchange hack to date.
“Recently, we have observed that the mixer mainly used by the DPRK [Democratic People’s Republic of Korea] is Wasabi,” Zhou said before stating that following the Wasabi washing of BTC,