Lazarus hacker organization strikes, the 400,000 Ether money laundering operation officially begins!!!
The North Korean hacker group Lazarus has finally started to launder the 5,000 ETH stolen from the Bybit hack, using eXch and Chainflip mixers to convert the funds into Bitcoin. Blockchain investigator ZachXBT revealed this movement and linked the attack to the Phemex hack, pointing out that the funds from both attacks overlapped at the same address. Bybit restored fund flow within just 12 hours after the hacking incident, processing $4 billion in deposits. Meanwhile, Elliptic and Chainalysis are tracking the stolen funds and holding Lazarus accountable.
This incident not only highlights the complex money laundering mechanisms behind the North Korean hacker group but also reveals the vulnerability of the cryptocurrency market to sophisticated attacks. While Bybit claims to have resumed withdrawals, how effectively the exchange can respond to hacking incidents and protect user funds remains an open question. Are all exchanges secure enough to withstand such precise attacks?
