North Korea-Linked Lazarus Group in Action!

According to a pseudonymous crypto analyst, the Lazarus Group, linked to North Korea, has successfully laundered the majority of the funds stolen from Bybit on February 21. Only 156,500 ETH remains to be moved, which is expected to happen within the next three days.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

The FBI has flagged 51 Ethereum addresses, while Elliptic has identified over 11,000 wallet addresses connected to the hackers. Chainalysis reports that the attackers have converted portions of the stolen Ether into Bitcoin (BTC), Dai (DAI), and other assets using DEXs, cross-chain bridges, and instant swap services.

THORChain Under Fire!

Hackers have been utilizing decentralized protocols to obscure their transactions. One of the most criticized platforms in this process has been THORChain. Developer “Pluto” announced they would no longer contribute to the protocol after a proposal to block North Korean hacker-linked transactions was overturned.

The Bybit hack, with a $1.4 billion loss, is the biggest exploit in crypto history, surpassing the $650 million Ronin Bridge hack from March 2022 by more than double.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Bybit Hackers Resume Laundering! appeared first on Coin Engineer.