Chainalysis Reactor powers first crypto seizure in Greece after $1.5b Bybit hack

Key Points

1. Greek authorities used Chainalysis Reactor, a blockchain investigation platform, to trace and freeze a suspicious wallet connected to the $1.5 billion Bybit hack by Lazarus Group.

2. The seizure was facilitated by a partnership between Greece's Hellenic Anti-Money Laundering Authority, Chainalysis, and Performance Technologies.

3. Lazarus Group, known for stealing an estimated $5 billion since 2017, typically uses cross-chain swaps and privacy mixers to launder funds, but their methods were countered in this case.

4. Greek Finance Minister Kyriakos Pierrakakis described the operation as a 'blueprint' for modern financial defense against cybercriminal activities.

5. The success of the operation highlights the effectiveness of combining global blockchain forensic tools with local law enforcement expertise.