Bybit Security Breach – $1.4B Stolen Asset Analysis (Ongoing Investigation 1)

2025-02-24 Chainbounty

https://community.chainbounty.io/posts/0195352f-55de-7791-aae3-9e6008c8bcb9

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Chainbounty profiles laundering activity after the Bybit theft rather than the initial compromise, focusing on an address that ZachXBT linked to both the Bybit and Phemex incidents associated with Lazarus Group. The analysis treats 0x33d057af74779925c4b2e720a820387cb89f8f65 as part of an automated laundering cluster because its first activity predates the Bybit hack and its BNB flows connect through short-lived relay wallets. Backward tracing on BSC identified paths through 0x9d636e330abef7a34fbb079580e6c3d20b4dd3cc and 0x543568d6c7b41537eb0bb9ed455e77949f0892ae, with some funds reportedly originating from CoinEx and Gate.io. The report describes layering patterns in which small BNB inputs are consolidated into larger transfers, leaving attribution and KYC confirmation to exchanges and law enforcement.

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