Spoils of $1.5 Billion Bybit Hack Traced to Greek Crypto Exchange: Report

In February, Mammoth $ 1.5 billion Hack Crypto Exchange Quebit has been found on an unnamed Greek crypto exchange.

AttackWhat is considered to be the largest crypto exchange in history, later researchers found researchers in North Korea Lazarus Group. A group sponsored by the state is related to numerous high cyber attacks in recent years, both inside and outside the crypto world.

The CEO of Greek Money Washing Administration, Charalambos Vourliotis, said the regulator discovered a “suspicious” transaction of a registered Greek exchange user in May, A states A press conference reported by a Greek newspaper Proto Thema. The Ethereum wallet has allegedly received a “large amount of” crypto currency.

After the investigation of his analysts, transactions were then related to funds stolen from Bilbit Hak. The subtraction command allegedly issued authorization for the user’s Crypto wallet for funds, and the report was submitted to the Prosecutor’s Office in the country for further legal proceedings.

Although many famous international exchange are licensed to work in Greece, including Coinbase, Kraken and Bemini, the country also has several local founded, domestic exchanges, such as Arrogance.

The announcement could have wider effects for Greek crypto users. Proto Thema They report that the crypto currencies “are now also under the supervision of the” money laundering administration in the country.

Search for stolen bybit funds

Bealit managed to keep liquidity in the immediate after a devastating attack, relying on the short -lived “Bridge loans” from other crypto companies such as Galaxy Digital, Falconx and Wintermut, but many stolen funds are yet to be recovered.

Nuybit claims that have recovered $ 42.89 million in assets at the time of writing, with approximately 88.87% a cryptocurrency that can be monitored by investigators at Blockchain since the end of March.

However, Bybit says that about 7.59% of the funds have “become dark”, due to the use of anonymity to preserve anonymity such as a cryptocurrencies such as Wasabi, Cryptomixer, Railgun and Tornado Cash, which means he probably never regains. An additional 3.54% of the funds is frozen by cooperation with other exchanges.

Incident reports have noticed the complexity and speed of the North Korean team’s money laundering operations, saying that this may suggest the presence complex crypto-curling infrastructure In neighboring countries like China.

Edited by Stephen Graves