Basri Caneri 
The hacker group behind the massive $1.4 billion hack attack on cryptocurrency exchange Bybit has stepped up its efforts to launder the stolen funds. According to recent reports, the hackers moved 62,200 ETH (approximately $138 million) to different addresses. However, it is stated that 156,500 ETH still needs to be laundered.
The activity decreased after the FBI identified wallets associated with hackers and issued warnings. However, hackers continue to transfer stolen funds using decentralized platforms such as THORChain.
How Hackers Move Funds?
Lazarus Group, which was held responsible for the Bybit attack, stole a total of 499,000 ETH in a hack attack on February 21. According to blockchain analyzer EmberCN, hackers have moved 343,000 ETH to date.
Lazarus Group uses the following methods to hide the funds:
- converting Ethereum into Bitcoin and DAI and distributing it to different networks.
- Usingdecentralized exchanges and instant clearing services that do not require KYC (Verification of Identity).
- Transfers to different chains through cross-chain bridges.
The US Federal Bureau of Investigation (FBI) confirmed that the hack attack belonged to the North Korea-linked “TradeTraitor” group. FBI urges crypto exchanges, bridges and node operators to block transactions linked to hackers.
Reactions to THORChain Grow
Some of the stolen funds were found to have been moved through THORChain. THORChain, a decentralized cross-chain exchange protocol, has been the target of criticism for allegedly enabling hackers.
This has sparked serious debate within the community. Pluto, a developer on THORChain, announced that he was leaving the platform, claiming that hackers were being allowed to transfer funds. Another validator similarly threatened to withdraw from the project.
While THORChain founder John Paul Thorbjornsen suggests that wallets blacklisted by the FBI or the US Treasury Department are not using the protocol, concerns remain within the community.
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