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Stolen assets from Bybit were sent to an address associated with memecoins 🔰

Stolen assets from Bybit were sent to an address associated with memecoins 🔰

Feb-24-2025 12:25:51 PM

Hacker group Lazarus, known for high-profile crypto hacks, has been accused of stealing $1.4 billion from Singapore-based exchange Bybit last week. Blockchain investigator ZachXBT has traced some of the stolen funds through a series of cross-chain transfers and uncovered sophisticated laundering tactics.

On February 22, ZachXBT reported that a hacker transferred $1.08 million in USDC stablecoins to wallet “0x3639…7d1,” from which they were forwarded to the Solana blockchain . The assets were then moved to Binance Smart Chain (BSC) via wallet “EFmqz…dq2P” and distributed to more than 30 addresses.

Transaction history shows that the funds were later consolidated in wallet “0x0be9…55a3”, which distributed 106,000 USDC across 10 BSC wallets, then moved back to Solana.

The on-chain detective found that several recipient addresses were linked to fraudulent memcoin transactions. ZachXBT noted that the wallet owner had previously created dubious memcoins on the Solana network on the Pump fun platform.

On February 23, ZachXBT identified over 920 addresses associated with the hack, linking them to the money laundering methods of the Lazarus Group hackers. The cryptocurrencies ended up passing through multiple crypto mixers and exchanges, making them difficult to track.