Bybit News: Lazarus Group Moves Stolen ETH to Tornado Cash, Expands Malware Campaign

In a recent development, North Korea’s Lazarus Group has been involved in significant cryptocurrency activities, moving stolen Ethereum to Tornado Cash and expanding its malware campaign. Here’s a detailed summary of the events:

Lazarus Group Moves 400 ETH to Tornado Cash, Expands Malware Campaign

North Korea’s Lazarus Group has been detected moving 400 Ethereum (ETH), worth around $750,000, to Tornado Cash. The transaction was traced back to Lazarus’s activity on the Bitcoin (BTC) network. The group has been linked to multiple high-profile hacks, including the $1.4 billion Bybit exploit in February. Following the hack, the group concealed the stolen funds using decentralized exchanges like THORChain (RUNE), which do not require identity checks.

Bybit CEO Reacts to Hyperliquid ETH Liquidation

Bybit CEO Ben Zhou shared his thoughts on a massive Hyperliquid ETH whale liquidation that led to the platform losing $4 million. Zhou highlighted issues with leverage on both CEXs and DEXs, explaining how the whale was able to exit with a long position of 175,000 ETH (valued around $340 million) with 50x leverage without triggering a market crash. Zhou suggested that the whale made a ’quick and clean’ exit, letting Hyperliquid take the loss.