Bybit Faces $400M Ethereum Hack: Funds Laundered Through Wasabi Mixer

Cryptocurrency exchange Bybit has suffered a major security breach, with hackers siphoning off $400 million in Ethereum. The stolen funds, representing 27.6% of the total $1.4 billion initially taken, have been rendered untraceable through the use of the Wasabi Mixer privacy tool. This incident highlights the growing trend of attackers leveraging crypto mixers and decentralized cross-chain services to obscure their transactions. Bybit CEO Ben Zhou confirmed that $390 million of the hacked funds remain unrecoverable due to advanced laundering techniques employed by the perpetrators, believed to be linked to the notorious Lazarus Group.

Bybit Hack: $400M in Ethereum Untraceable Through Wasabi Mixer

Bybit has lost $400 million in Ethereum to hackers, with the funds becoming untraceable due to the use of Wasabi Mixer. The stolen funds represent 27.6% of the $1.4 billion initially taken in the hack. Crypto mixers and decentralized cross-chain services are increasingly used by attackers to conceal their activities.

Bybit CEO Reveals $390M of $1.4B Lazarus Hack Funds Untraceable

Bybit CEO Ben Zhou stated that nearly 28% of the $1.4 billion stolen in a February 2025 hack linked to North Korea’s Lazarus Group has become untraceable, with over $390 million worth of crypto obfuscated using mixers, cross-chain bridges, and OTC platforms. Of the 500,000 ETH stolen, 68.57% remains traceable, 27.95% has gone dark, and 3.84% has been frozen.