Greek authorities have frozen a crypto pockets linked to the record-breaking $1.5 billion hack of the Bybit change, marking the nation’s first main enforcement motion involving stolen digital property.
In line with Greek information shops Proto Thema and Kathimerini, the Hellenic Anti-Cash Laundering Authority (HAMLA) acted on intelligence acquired in Could, which recognized a big influx of Ether (ETH) to a consumer account on a Greek crypto buying and selling platform.
Utilizing forensic blockchain evaluation instruments, HAMLA confirmed that the funds originated from the large Bybit breach in February 2025.
$1.5B Bybit heist path results in Greece
Greece’s AML Authority froze an $ETH pockets on an area change—linked to the historic February @Bybit_Official assault by North Korea’s Lazarus Group.
This marks Greece’s first-ever crypto seizure tied to world AML enforcement.… pic.twitter.com/MMSW2d2kXA— CryptoPotato Official (@Crypto_Potato) June 25, 2025
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Wider Crypto Laundering Community Tied to Bybit Alternate Hack
Crypto investigator ZachXBT has highlighted how teams like North Korea’s Lazarus Group function huge laundering networks utilizing OTC brokers, privateness wallets, and exchanges in weak regulatory zones. He estimates that Tron’s “Black U” market alone could also be value $5–10 billion, with a lot of it unattributed.
Within the case of the Bybit hack, the Lazarus Group rapidly moved $160 million by illicit channels inside simply two days. Analysts say this implies an alarming growth of laundering capability.
Lazarus Group simply related the Bybit hack to the Phemex hack instantly on-chain commingling funds from the intial theft deal with for each incidents.
Overlap deal with:
0x33d057af74779925c4b2e720a820387cb89f8f65Bybit hack txns on Feb 22, 2025:… pic.twitter.com/dh2oHUBCvW
— ZachXBT (@zachxbt) February 22, 2025
Regardless of rising considerations, many exchanges nonetheless revenue from illicit transactions with out intervention. In line with the U.S. Division of Justice, North Korea additionally deploys IT staff overseas underneath faux identities to funnel funds again house, typically in USDT or USDC. The Athens seizure marks a uncommon success in intercepting this world laundering community.
Greek Pockets Tied to The Hack Frozen in Landmark Seizure
The attackers reportedly used subtle laundering strategies, splitting the stolen ETH throughout a number of wallets to obscure its origins. The frozen pockets in Greece represents the primary time native authorities have efficiently traced and blocked digital property concerned in such a high-profile theft. A proper seizure order has additionally been issued, with the case now within the arms of Greek prosecutors.
HAMLA President Charalambos Vourliotis briefed Finance Minister Kyriakos Pierrakakis on the company’s findings, underlining the invention’s significance. He famous that whereas the recipient of the illicit ETH hasn’t been formally named, additional authorized motion is underway.
This operation displays a rising potential amongst European regulators to trace crypto crime in actual time, with Athens becoming a member of a widening world web forged by worldwide companies, together with the FBI, which has already flagged the Bybit case publicly.
Forensics revealed that the Greek-linked pockets was not a part of a normal business transaction. As an alternative, the ETH adopted a sample beforehand tagged by U.S. investigators, confirming its affiliation with the Bybit hack. Analysts suspect the Greek account might have acted as a hyperlink on a broader laundering chain, although it’s unclear whether or not the pockets proprietor was conscious of the funds’ illicit origins.
With digital asset crime more and more crossing borders, Greece’s intervention units a brand new precedent in crypto enforcement.
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Key Takeaways
- Historic Motion in Greece: Greek officers froze a pockets tied to the Bybit change hack, their first main crypto-related asset seizure.
- Lazarus Group Connection: The theft is linked to North Korea’s Lazarus Group, identified for laundering stolen crypto through OTC brokers and weakly regulated exchanges.
- Blockchain Forensics at Work: HAMLA used on-chain evaluation instruments to hint stolen ETH to a Greek change, triggering fast asset freezes and authorized motion.
- World Scrutiny Rising: U.S. DOJ and FBI have intensified efforts, confirming the funds’ freeze and submitting forfeiture actions in opposition to North Korean-linked laundering operations.
The publish Greece Just Stopped a $1.5Bn Crypto Heist: This Is How Athens Saved Your Bags appeared first on 99Bitcoins.
