Episode 509
📍 Scammers are targeting automated trading bots with fake tokens containing hidden "backdoors" that appear safe, resulting in massive losses, potentially in the tens of millions of dollars.
📍 North Korean hackers have started laundering over $140 million in stolen Bybit funds, systematically moving them through anonymous exchanges and converting them to Bitcoin to obscure the money trail.
📍 The hackers, linked to North Korea's Lazarus Group, may use Bitcoin mixers next to further obfuscate the transaction trail, although the sheer volume of stolen assets may prove challenging to conceal.
📍 Bybit is facing pressure from users' withdrawals, with roughly 23,000 BTC pulled from its hot wallet, and an outflow of approximately $1.7 billion since the theft, with total outflows reaching $6 billion across various cryptocurrencies.
📍 Anonymous crypto exchange eXch has been accused of processing tens of millions of dollars in stolen assets from the hack, despite direct requests from Bybit to block the activity, sparking concerns about money laundering and reputational damage.
