Ben Zhou CEO of Cryptocurrency Exchange Bybit said that 27.95% of the funds lost in the exploit of $ 1.4 billion designed by the North Korean group Lazare became dark or became not found.
“The total hacked funds of 1.4 billion USD around 500K ETH. 68.57% remain traced, 27.59% became dark, 3.84% have been frozen. The funds that were imposed mainly in the mixers who then published the bridges on Monday.
The fundamental funds were moved to mixers before being transferred via bridges to P2P (peer-to-peer) and OTC (over-the-counter) platforms, the post explained, mentioning the use of Wasabi, a crypto mixer, to wash a certain amount of BTC, after a part of these funds in other mixers, in particular Railgun, Tornado Cash and Cryptomix.
The malicious entity then executed several transverse exchanges through Thorchain, Exch, Lombard, Lifi, Stargate and Sunwap, the last step involving the conversion of these illicit funds into more liquid active.
The Lazarus group linked to North Korea hacked the parbit in February, draining 500,000 ether (ETH) by taking “control of the specific Cold Seth portfolio and by transferring the whole ETH to the cold wallet to this unidentified address”.
Legal medicine reveals that hacked funds, a total of 432,748 ETH, representing 84.45%, was transferred from Bitcoin ether via Thorchain. In particular, 67.25% of these funds, amounting to 342,975 ETH (approximately 960.33 million dollars), were converted to 10,003 BTC and distributed on 35,772 portfolios with an average of 0.28 BTC per portfolio.
In addition, 1.17% of funds, or 5,991 ETH (around 16.77 million dollars), remains on the Ethereum blockchain, hidden in 12,490 portfolios.
Finally, the Bounty de Lazarus initiative received 5,443 bonuse reports in two months, 70 of which were deemed valid. Zhou said that the exchange needs “more bonus hunters who can decode mixers because we need a lot of road help”.
