Greece Seizes Crypto Assets Linked to $1.5 Billion Bybit Hack for the First Time

On July 10, CoinDesk reported that Greek authorities completed the country's first cryptocurrency seizure, freezing funds related to the $1.5 billion Bybit hack carried out by a North Korean hacking group in February this year. The Greek Anti-Money Laundering Authority tracked a suspicious transaction, with on-chain data showing that the transaction was related to the initial theft. Greek Finance Minister Kyriakos Pierrakakis said that the wallets involved were related to "a Greek platform providing transaction services." Analysts used the Chainalysis Reactor tool to track the flow of funds, confirming a clear link between the suspect user's wallet and the main Bybit hack wallet. According to Bybit's publicly available LazarusBounty dashboard, approximately $72.00 million (5% of the stolen Ethereum) has been frozen, while approximately $870.00 million of the stolen funds remain unaccounted for. Previously, the hackers had transferred funds through mixers such as Wasabi and Tornado Cash, cross-chain bridges, and peer-to-peer trading platforms. [Deep Tide TechFlow]