🚨 Bybit Hack: Stolen $1.4B Likely Being Laundered Through Crypto Mixers

The Bybit hack, the largest in crypto history, is entering its money-laundering phase, with blockchain analysts suspecting the use of mixers and cross-chain transactions.

🔎 Elliptic’s Investigation:

Blockchain security firm Elliptic linked the attack to North Korea’s Lazarus Group.The stolen assets are likely being converted into ETH before laundering.Over 50 wallets received 10,000 ETH each, with 10% of the funds already moved.

💰 How Hackers Launder Crypto:
1️⃣ Spreading funds across multiple wallets
2️⃣ Using cross-chain bridges to move funds between blockchains
3️⃣ Swapping assets via DEXs for harder traceability
4️⃣ Sending funds through Tornado Cash & other mixers

⚠️ Exchange Involvement?
Elliptic claims a crypto exchange, eXch, has allowed laundering despite Bybit’s warnings—though eXch denied involvement in a February 23 statement.

📢 Bybit Covers All Losses
On February 24, Bybit CEO Ben Zhou announced the exchange fully replaced the $1.4B in stolen ETH and will soon publish a new proof-of-reserve report.

💬 Should regulators crack down on mixers, or is privacy still a priority?

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