Bybit and Phemex funds were moved to the same wallet

Blockchain analyst ZachXBT revealed that the Lazarus Group consolidated stolen funds from the Bybit and Phemex attacks into the same wallet. In the Phemex attack in January, hackers stole $29 million worth of digital assets in more than 125 transactions across 11 blockchain networks. These funds were converted to Ethereum (ETH) via privacy-focused protocols like Tornado Cash, making them difficult to track.