The North Korean state-sponsored hacker group, Lazarus, has fully laundered the proceeds from the recent exploit of centralized exchange, Bybit’s ETH cold wallet, bridging 500,000 ETH (~$1.3B) tokens from Ethereum to native Bitcoin. The ETH was primarily bridged via the omni-chain liquidity layer, THORChain, which has processed over $5.5B in volume since the Bybit hack on 21st February. 72% of the proceeds were bridged via THORChain. Other laundering venus include THORChain frontend, AsgarDEX, and cryptocurrency exchange, eXch.
Through processing the transfers, the THORChain protocol netted $5.5M in fees, a sum which some critics argue should be returned to Bybit as part of hack proceeds.
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