Ben Zhou: Most of the Stolen Bybit Funds Can Be Traced

About 89% of the nearly 500,000 ETH stolen from Bybit remains traceable, according to Bybit’s CEO, Ben Zhou.

He mentioned that 7.6% of the funds have «disappeared into the shadows,» while another 3.5% are currently frozen.

The perpetrators from the Lazarus Group exchanged 86.3% of the stolen coins (440,091 ETH) into 12,836 BTC across 9,117 wallets. They used Wasabi Mixer and various P2P vendors to launder 193 BTC.

Zhou highlighted that «decoding» transactions associated with mixers poses a significant challenge in tracking these funds.

In the past 30 days, Bybit has received 5,012 bounty reports, with 63 of them being valid. Zhou called on the community to assist in the investigation.

Previously, CertiK experts recorded a transfer of 400 ETH (approximately $752,000), believed to be linked to Lazarus, to the cryptocurrency mixer Tornado Cash.