Greece Makes First Crypto Seizure Tied to North Korea's $1.5B Bybit Hack
2025-07-09 18:41:00
Main Idea
Greece has made its first cryptocurrency seizure linked to North Korea's $1.5 billion Bybit hack, freezing assets tied to the Lazarus Group.
Key Points
1. The Hellenic Anti-Money Laundering Authority issued a freezing order to block assets related to the $1.5 billion Bybit hack.
2. The seized funds, around 10 million euros ($11.7 million), were traced using Chainalysis Reactor.
3. The hackers previously moved funds through mixers like Wasabi and Tornado Cash, cross-chain bridges, and peer-to-peer desks.
4. Bybit’s LazarusBounty dashboard indicates about $72 million (5% of the stolen $870 million) has 'gone dark.'
5. The seizure is part of efforts to combat money laundering linked to North Korea's Lazarus Group.
Description
Greek authorities have carried out the country’s first cryptocurrency seizure, blocking access to funds lifted from February’s record $1.5 billion Bybit hack linked to North Korea’s Lazarus Group. The Hellenic Anti‑Money Laundering Authority traced a suspicious transaction to a wallet that on‑chain data tied to the initial theft. That wallet, according to Greece’s Minister of Economy and Finance Kyriakos Pierrakakis, was tied to a “Greek platform providing exchange services.” Analysts, according...
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