BYBIT was described on February 21 as the largest encryption breach in history. According to the final analysis of the authorities, the famous Excination Crypto lost more than $ 1.4 billion of digital assets, mainly the ether.
After hours of successful penetration, it was also revealed that the Lazarus Group in North Korea was the one that came out of the theft. Multiple reports also revealed that the exchange of encryption ignored some security defects months before the accident, allowing the group to settle the cold wallet.
In the last development in the piracy epic, bybit's Ben Zhou participated that about 88.87 % of stolen boxes are still tracked. Zhou shared these recent developments through his Twitter/X account, saying that 3.54 % of the money is frozen, and 7.59 % of stolen money has leaked to a dark network and is no longer tracked.
3.20.25 Executive Summary of the Inventive Funds:
Hacker started using mixers: 1. Wasbi 2.
Total hacker money from $ 1.4 billion around ETH 500K. 88.87 % remains a viability, 7.59 % of the dark, 3.54 % has been frozen.
Dragon: – 86.29 % (440,091 ETH, …Benbybit March 20, 2025
Lazaros collection used mixer to hide money
In the Twitter/X publication on March 20, ZHou shared the results of the company's internal investigations into the piracy incident. According to Zhou, infiltrators used many Bitcoin mixers, including Cryptomixer, Railgun, Wasabi and TornadoCash. Of the $ 1.4 billion of stolen boxes, about 88.87 % still can be tracked, 7.59 % is now lost, and about 3.54 % are still frozen.
Zhou presented a detail of the stolen money. Zhou participated that 82.29 % or 440,091 ether was transferred at $ 1.23 billion to 12,835 Bitcoins distributed over 9,117 encryption portfolios.
Zhou requests help to track lost funds
In the same Twitter/X Post, Zhou shared that about 193 Bitcoins was transferred to the Wasabi mixer. After transferring this money to the mixer, Zhu indicated that stolen money was transferred to different P2P sellers.
Zhou believes that the trend will continue with more stolen boxes to the mixers. BYBIT CEO admits that the use of decoding mixer transactions is the primary challenge of the company. Zhou recognizes these challenges and is now asking for help from the general public.
Last month, the stock exchange received 5,012 bonus reports, and 63 of these reports were valid. Zhou reiterated that they were looking for more hunters to solve the piracy problem.
Image depicting hackers in action. Source: Gemini Imagen.
Bybit admitted the presence of risks, but ignored them
In an interview, BYBIT CEO admitted Warning About safety defects for the platform months before the violation. He added that they noticed that their safe was no longer compatible with the stock exchange safety framework about three or four months of penetration.
Zhu admitted that they could replace the treasury, and they were looking at this option now. The major Product officials at Safe, Rahul Rumalla, have a product and company, and additional safety features have been added. Romala said that their job was not just addressing the problem, but to ensure that the same violation will not happen again.
Distinctive image from Vox, tradingView graph
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