Over 60% of assets stolen from Bibit’s $1.5 billion hack has darkened

Bybit’s Lazarus Bounty website, which tracks stolen funds in a $1.5 billion hack, shows that over 60% are dark and only 5% are frozen.

The website shows that approximately 62% of the stolen funds (approximately $868 million) are no longer able to be tracked. So far, BYBit has paid over $2.3 million in compensation for 13 “bounty hunters.”

Lazarus Bounty website, launched in February, was created by BYBit and provided rewards for helping to track stolen funds and recover them. The exchange promised a 10% prize money on the frozen amount and was split between those who followed the funds and those who frozen them.

Lazarus Bounty website

So far, Mantle, the Ethereum Layer 2 network, has been most helpful by freezing around $42 million of stolen funds. Still, cooperation was not universal. The exchange of crypto mixing protocols is said to have refused to lock down the assets and washed almost $95 million.

Exchange pages on the Lazarus Bounty website

However, the exchange was discovered in hot water, so the public was quietly closed in late April and officially stopped operations in early May.

But it keeps the API open to select partners and continues to mix both the revenue from Buybit Hack and other illegal funds.

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