Editor's PiCK
"Lazarus Transfers 5000 ETH from Bybit Hack... Money Laundering Appears to Begin"
Minseung Kang
Summary
- Lazarus hackers have begun money laundering operations by transferring 5000 ETH from the Bybit hack funds to new addresses.
- According to analysts, they are laundering funds through the cryptocurrency mixer eXch and converting them to Bitcoin using chain flips.
- Bybit reported losses of approximately 401,347 ETH, with total damages amounting to about $1.46 billion.
Hackers from the Lazarus group have reportedly begun transferring funds to mixers after the Bybit exchange hack.
On the 22nd, blockchain expert ZackXBT revealed through X (formerly Twitter) that "The Lazarus hacker group has transferred 5000 ETH from the Bybit hack to new addresses and begun money laundering operations."
The analyst stated, "They have started laundering funds through the cryptocurrency mixer eXch and converting them to Bitcoin using chain flips." A mixer refers to a service that enables anonymous transfer of cryptocurrencies.
Previously, global cryptocurrency exchange Bybit suffered a major hack, losing approximately 401,347 Ethereum. The total damage amounts to about $1.46 billion.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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