March 3, 2025 – In a stunning development in the world of cryptocurrency, blockchain security firm PeckShield has reported that the hacker responsible for the massive Bybit exchange heist has fully laundered all 500,000 stolen Ethereum (ETH), valued at approximately $1.4 billion. The breach, which occurred on February 21, 2025, marked one of the largest crypto thefts in history.According to PeckShieldAlert, the hacker, widely believed to be linked to North Korea’s Lazarus Group, completed the laundering process in just over a week, utilizing sophisticated methods including cross-chain swaps, decentralized exchanges, and mixers to obscure the funds' trail. The rapid pace of the operation has raised alarms about the vulnerabilities in the crypto ecosystem and the challenges of tracking illicit transactions.Bybit, a Dubai-based centralized exchange, had previously restored its reserves to cover user funds, ensuring no direct losses to customers. However, the incident has sparked renewed debate over security practices and the role of decentralized platforms in facilitating the movement of stolen assets. Authorities and blockchain analysts continue to investigate, but the successful laundering underscores the growing sophistication of crypto-related cybercrime.