Ethereum to Bitcoin: North Korean Hackers

North Korean Hackers Convert Stolen Ethereum to Bitcoin via THORChain

• Approximately $1.4 billion in Ethereum (500,000 ETH) was stolen from Bybit by North Korean hackers.
• 83% of the stolen Ethereum, equivalent to 417,348 ETH (~$1 billion), was converted into Bitcoin.
• The Lazarus Group is identified as the hacking collective responsible for the breach.
• THORChain was predominantly used for converting Ethereum to Bitcoin, accounting for 72% of transactions.
• Bybit has launched lazarusbounty.com to track and recover stolen funds.

The Lazarus Group stole $1.4 billion in Ethereum from Bybit, converting most of it into Bitcoin using THORChain. Efforts are underway to trace and freeze these assets.