The $ 1.4 billion hack from Bybit, one of the largest cryptocurrency exchanges, is considered the work of the Lazarus group, a North Korean hack collective with a history of large-scale cyber attacks. The hackers were responsible for the $ 1.4 billion hack from Bybit, which focused on Bybit’s cold wallet -and intercepted transfers, access to massive quantities of funds. Since then they have used more than 11,000 cryptocurrency portfolios to move and wash the stolen assets, so that the tracking efforts are complicated
In response, the CEO of Bybit, Ben Zhou, took action by explaining a “war” to the hackers and launching an initiative to restore the stolen funds. This included the introduction of a new tool for suspicious portfolios on the black list and offering rewards for following the stolen money.
Blockchain Analytics company Elliptic has released a free data feed list portion of addresses that are linked to North Korean hackers. This initiative helps the community to prevent sanctions and to prevent money laundering from the stolen assets.
“Addresses linked to the Bybit -Expoit were identified and available to screen customers within just 30 minutes after the announcement, to protect customers without performing repetitive manual checks,” Elliptic said.
Elliptic’s Intelligence API identified 11.084 Crypto portionary addresses linked to the Bybit -Hack. The list is expected to expand as the investigation continues.
Zhou gratefully expressed the Elliptical team for their help with providing real-time information about the Bybit-Hack. On February 25, Bybit hired the Web3 security company Zeroshadow to investigate the blockchain and to trace the stolen funds of the Bybit -Hack. The task of the company is to follow the funds and prevent further movement, aimed at restoring as much as possible.
Despite the infringement, Bybit has worked to maintain platform stability, to keep the recordings open and to protect external liquidity by loans. By February 25, the stock market started repaying these loans, starting with a transfer of 40,000 ETH back to Bidget.