Bybit Hack: 27% of Stolen Funds Untraceable, CEO Uncovers Hidden Trails

A staggering 27% of the cryptocurrency stolen in Bybit’s February cyberattack remain untraceable, according to CEO Ben Zhao. This revelation, detailed in a social media post, comes amid investigations into the heist attributed to North Korea’s Lazarus Group. The attack saw approximately $1.5 billion worth of Ethereum and Lido Staked Ether disappear. Zhao sheds light on how the stolen funds were obscured through complex methods like crypto mixers, cross-chain bridges, and various transfer techniques. These actions led to transactions being spread across multiple platforms, complicating the effort to pinpoint their location.