The exchange of centralized exchanges not Kyca has strongly denied the accusations of recycling of funds stolen by the historic hack bybit on behalf of the notorious Lazzaro group.
The accusations, which have been widely discussed in the forums of investigation on social media and blockchain, argue that Exch has developed millions of dollars in stolen funds linked to the North Korean hacking collective.
In response to these accusations, Exch released an official declaration on February 23, 2025. The exchange labeled these statements as without foundation and part of a targeted “Fud” attack.
“We are not recycling money for Lazzaro/Dprk,” said Exch.
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Bybit suffers a loss of $ 1.5 billion in Crypto Hack
The bybit hack has now been confirmed as the largest cryptocurrency theft of history, with the attackers who stole over $ 1.4 billion after compromising the cold Ethereum Multisig portfolio.
The scope of this accident sent shock waves in the sector, raising concerns about the vulnerability of safety and on the risk management practices to the main exchanges.
The founder of Binance Changpeng Zhao has plundered the situation shortly after the news of the hack broke.
In a post dated 21 February 2025 on X (previously Twitter), Zhao suggested that he temporarily stopped all withdrawals as a precautionary measure to guarantee the integrity of the system.
He commented, “It is not an easy situation to face. It may suggest stop stopping all withdrawals for a while as a standard safety precaution. Will provide assistance if necessary. Good luck!”
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Recycling accusations of $ 30 million linked to the Lazzaro group
Exch refuses to collaborate after being connected to the North Korean hackers
@Bybit_offial The request for assistance was rejected by Exch, the mixer of coins used by the North Korean hackers.
– Crypto Luffy (@Cryptoluffy007) February 23, 2025
The controversy began when the important Blockchain Zachxbt investigator said in a telegram post that Exch had developed $ 35 million funds stolen by the bybit hack. He also said that the exchange erroneously sent 34 ETHs (about $ 96,000) to the hot portfolio of another exchange.
Other Blockchain analysts and Slowmist security companies have confirmed these accusations. He said Exch received Ethereum (ETH) from the portfolios associated with the Exploit Bybit.
Nick Bax, a member of the Hacker White Hat group of the Security Alliance, has also estimated that Exch managed about $ 30 million in funds related to North Korea the same day. In addition, a part of the stolen hat has been converted into other cryptocurrencies on the Exch platform.
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The bybit hack has now been confirmed as the largest cryptocurrency theft of history, with the attackers who stole over $ 1.4 billion after compromising the cold Ethereum Multisig portfolio.
While Exch has denied any illicit, his recognition that some stolen funds have entered his platform highlights the challenges that unchanged exchanges have to face in the prevention of illegal transactions.
The exchange of CRIPTOVALUTE POST NON KYC denies the accusations of recycling of hack bybit funds for Lazarus Group appeared for the first time on 99 bitcoins.