Crypto stolen from the massive $1.4 billion hack of the Bybit crypto exchange is likely to be laundered through mixers as the hackers continue to attempt to obfuscate the transaction trail. “If previous laundering patterns are followed,

Crypto exchange Bybit said it was hacked, resulting in what analysts estimate was the loss of almost $1.5 billion worth of tokens in the biggest theft ever committed in the industry. Researchers believe North Korean hackers were likely responsible.

In a Feb. 22 post to his investigations Telegram group, onchain sleuth ZachXBT said that eXch laundered $35 million of the funds stolen by North Korea’s Lazarus Group from Bybit and then accidentally sent 34 Ether ( ETH) with $96,000 to a hot wallet of another exchange.

Analysts believe the attack is connected to North Korea's Lazarus Group, a state-sponsored hacking collective infamous for stealing billions from the cryptocurrency sector. Per Ben Zhou, CEO of Bybit,

Cryptocurrency exchange Bybit on Friday revealed that a "sophisticated" attack led to the theft of over $1.46 billion worth of cryptocurrency from one of its Ethereum cold (offline) wallets, making it the largest ever single crypto heist in history.