Bybit CEO Ben Zhou has reported that more than two-thirds of the digital assets stolen from the platform by North Korea’s Lazarus Group in February are still traceable. In an executive summary, Zhou stated that out of the $1.4 billion hacked, 68.6% remains traceable, 27.6% is untraceable, and 3.8% has been frozen. The untraceable funds were funneled into mixers and then moved through various platforms. Hackers exploited vulnerabilities in Bybit’s cold wallet infrastructure in February, resulting in the largest crypto exchange hack to date. Zhou revealed that a significant amount of Bitcoin and Ether had been transferred and converted through different platforms. Bybit has paid around $2.3 million in bounties to 70 valid reports out of 5,443 received. The company launched the Lazarus Bounty program offering $140 million in rewards. Bybit encourages more reports and bounty hunters to help trace the stolen funds. In related news, the eXch crypto exchange announced it would cease operations on May 1 due to allegations of being used to launder funds from the Bybit hack. For more updates on the cryptocurrency industry, stay tuned.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bybit CEO Ben Zhou has reported that more than two-thirds of the digital assets stolen from the platform by North Korea’s Lazarus Group in February are still traceable. In an executive summary, Zhou stated that out of the $1.4 billion hacked, 68.6% remains traceable, 27.6% is untraceable, and 3.8% has been frozen. The untraceable funds […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/101218"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=101218"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/101218\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=101218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=101218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=101218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}