Bybit CEO: Two-Thirds of Lazarus-Stolen Funds Still Traceable. .

Ben Zhou, CEO and co-founder of the cryptocurrency exchange Bybit, revealed that more than two-thirds of the digital assets stolen during a February cyberattack — allegedly carried out by North Korea’s Lazarus Group — remain traceable.

In an executive report posted on X on April 21, Zhou stated that out of the total $1.4 billion stolen, around 68.6% is still traceable, 27.6% has “gone dark,” and only 3.8% has been frozen.

According to Zhou, the untraceable portion was primarily funneled into crypto mixing services, then routed through bridges to peer-to-peer (P2P) and over-the-counter (OTC) platforms.

The attack, which occurred in February, is considered the largest crypto exchange hack to date. Lazarus Group exploited vulnerabilities in Bybit’s cold wallet infrastructure to carry out the theft.

“We found that the mixer most frequently used by North Korea recently is Wasabi,” Zhou noted. After laundering Bitcoin through Wasabi, a small portion was further processed through CryptoMixer, Tornado Cash, and Railgun.