Blockchain analytics company Elliptic has reported that the Lazarus Group, the group responsible for the Bybit hack, has begun laundering funds through Bitcoin mixers. The group is using Cryptomixer and Wasabi Wallet to obscure the transaction trail and hide the stolen $1.4 billion. Elliptic describes the Lazarus Group as the most sophisticated and well-resourced launderer of crypto assets and highlights their expertise in converting stolen assets into Bitcoin. The use of mixers in this process demonstrates how bad actors make stolen assets untraceable. Elliptic and other crypto investigators are following the money trail to prevent the hackers from cashing out on the stolen assets. Efforts to recover the stolen funds are underway, with $43,000 frozen on OKX in collaboration with the exchange's team. So far, around $50 million (3% of the stolen assets) has been frozen, while $280 million (20% of the funds) remains untraceable.



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