North Korean hackers have begun using multiple crypto mixers to launder approximately $1.4 billion in funds stolen from Bybit. In a disclosure by Bybit’s CEO, Ben Zhou, he outlined that these hackers are employing mixers such as Wasabi, CryptoMixer, Railgun, and Tornado Cash to obfuscate their tracks amid the theft of 500,000 ETH. While about 88.87% of the stolen assets remain traceable, 7.59% have gone dark, indicating they are likely unrecoverable, with an additional 3.54% having been frozen through cooperation with exchanges. A significant portion of the stolen ETH has been converted to Bitcoin and distributed across thousands of wallets, complicating recovery efforts further. The operation has been labeled 'TraderTraitor' by the FBI, identifying it as one of the largest crypto thefts in history. Recovery initiatives are ongoing, with Bybit's bounty program receiving numerous reports in the hopes of tracking down the laundered funds.

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