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Greek authorities have carried out the countryâs first cryptocurrency seizure, blocking access to funds lifted from Februaryâs record $1.5âŻbillion Bybit hack linked to North Koreaâs Lazarus Group.
The Hellenic AntiâMoney Laundering Authority traced a suspicious transaction to a wallet that onâchain data tied to the initial theft. That wallet, according to Greeceâs Minister of Economy and Finance Kyriakos Pierrakakis, was tied to a âGreek platform providing exchange services.â
Analysts, according to a blog post, used Chainalysis Reactor to map the flow of funds to establish âa definitive connection between the cryptocurrency in the suspect userâs wallet and the primary wallets used in the Bybit hack,â the post adds.
The evidence allowed the agency to issue a freezing order, locking the assets before they could disappear. Per Pierrakakis, the Hellenic Anti-Money Laundering Authorityâs operations have allowed for around 10 million euros ($11.7 million) to be retuned to victims. Itâs unclear whether any of these returns are related to the recent seizure.
The hackers have in the past moved funds through mixers such as Wasabi and Tornado Cash, crossâchain bridges and peerâtoâpeer desks.
Bybitâs public LazarusBounty dashboard suggests that about $72âŻmillion, 5% of the stolen ether, has now been frozen, while a third remains traceable. Around $870 million stolen from Bybit have now âgone dark,â according to the dashboard.
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