Bybit Hack: Billions in Crypto Disappear Into P2P and OTC Platforms

Nearly $1.4 billion stolen from Bybit exchange through a targeted cyberattack by Lazarus Group has left a significant portion untraceable. Bybit CEO Ben Zhou revealed that an estimated 27.59% of the stolen funds have vanished into un-trackable wallets and crossed over to platforms like P2P and OTC exchanges. Zhou explained that these funds flowed through mixers like Wasabi before reaching peer-to-peer (P2P) and over-the-counter (OTC) platforms, ultimately dispersing across a vast network of crypto wallets.