The $1.5 billion from the Bybit hack traced to a cryptocurrency exchange in Greece
Greek authorities have traced the $1.5 billion stolen from the Bybit cryptocurrency exchange hack in February to an unnamed exchange in Greece. The hack is believed to have been carried out by North Korea's group #Lazarus .
Developments and actions of the authorities
The head of Greece's Anti-Money Laundering Authority, Charalambos Vourliotis, stated that a suspicious transaction was detected in May, involving a large amount of Ethereum transferred to a user's wallet on this exchange. A seizure order has been issued and the case has been forwarded to the Prosecutor's Office for legal action.
Bybit reported recovering $42.89 million, but about 7.59% of the funds had "disappeared" due to the use of anonymous tools like mixers, making recovery difficult. This case highlights the complexity of money laundering activities involving cryptocurrency.