Bybit likely to recover only 30% of stolen funds at best, says security expert

Blockchain investigator ZachXBT has identified North Korea’s Lazarus Group as the perpetrator behind Bybit Exchange’s $1.46 billion hack, according to Arkham Intelligence on X. ZachXBT also noted via an X post that partial recovery of stolen funds is common, with 15-30% being recovered in the best-case scenario. However, laundering such a huge amount of stolen assets could be challenging for Lazarus. Recently, the group has been funneling stolen funds through Chinese exchanges across multiple chains before eventually shifting to over-the-counter (OTC) transactions. Unlike DPRK IT workers who returned the stolen Munchables funds, Lazarus operates as a completely separate entity, he added.