CRYPTOCURRENCY: North Korean hacker group Lazarus has started laundering 5,000 ETH from the Bybit $1.5 billion hack, kicking off their typical complex operation to clean the money.
The stolen crypto first landed in a new Ethereum address, then got routed through eXch, a centralized mixer, before being bridged to Bitcoin via Chainflip.
Bybit, one of the most active centralized exchanges, underwent a security incident after its wallet interface was exploited. Over $1.46B flowed out to four Ethereum addresses, and some of the funds are being swapped on DEX.
The Bybit attack is the biggest crypto hack and the first one targeting a major market operator. At the time of the attack, Bybit lost up to 8.64% of its assets out of its total reserves of $16.2B.
Bybit was also just funded with additional assets to reimburse the first group of FTX creditors for claims under $50,000.
