Over 60% of Assets Stolen in Bybit’s $1.5 Billion Hack Have Gone Dark

Bybit’s Lazarus Bounty website, which tracks funds stolen in the $1.5 billion hack, now shows that over 60% has gone dark, with only 5% frozen.

The website indicates that approximately 62% of the stolen funds — roughly $868 million — are no longer traceable, with only 5% frozen and nearly 33% still traceable. So far, Bybit has paid out over $2.3 million in bounties to 13 “bounty hunters.”

Launched in February, the Lazarus Bounty website was created by Bybit to track the stolen funds and offer rewards for help in recovering them. The exchange promised a 10% bounty for any frozen amount, split between the person who traced the funds and the party that froze them.

So far, Mantle, an Ethereum Layer 2 network, has helped the most by freezing approximately $42 million of the stolen funds. Still, cooperation wasn’t universal: crypto mixing protocol eXch refused to lock down any assets and is said to have laundered nearly $95 million.

However, as eXch found itself in hot water, it quietly shut down its public sites in late April and formally ceased operations in early May.

Yet, it kept its API open to select partners and has continued to mix — and thus launder — both the Bybit hack proceeds and other illicit funds.

Bybit did not respond to The Defiant’s request for comment.