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Bybit CEO Updates on $1.4 Billion Hack by North Korea`s Lazarus Group: 68.57% of 500k ETH Traceable

Bybit CEO Ben Zhou has provided an update on the $1.4 billion hack attributed to North Korea`s Lazarus Group, revealing that 68.57% of the stolen funds, totaling around 500,000 ETH, remain traceable, while 27.59% have gone dark and 3.84% have been frozen. The untraceable portion of the funds has been moved through mixers, including Wasabi mixer, and then through bridges to peer-to-peer (P2P) and over-the-counter (OTC) platforms. Zhou detailed that the hackers used various mixers to launder the funds. A significant amount of the stolen Ethereum, approximately 432,748 ETH, was converted into Bitcoin using Thorchain, with 67.25% distributed across over 35,000 wallets. Additionally, 5,991 ETH, valued at about $16.77 million, remains on the Ethereum blockchain, spread across 12,490 wallets with an average of 0.48 ETH each. On the Bitcoin side, 944 BTC, worth $90.6 million, was funneled through Wasabi Mixer alone, and 531 BTC, equivalent to around 18,206 ETH or 3.57% of the stolen assets, was bridged back to Ethereum via Thorchain. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io AMB Crypto

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GSR Leads $100M Private Placement into Nasdaq-listed Upexi, Inc. to Back Solana-Based Treasury Strategy

NEW YORK, NEW YORK, April 21st, 2025, Chainwire GSR , a leading crypto trading and investment firm, today announced it has anchored a $100 million private investment in public equity (PIPE) into Upexi, Inc. (NASDAQ:UPXI), a brand owner specializing in the development, manufacturing, and distribution of consumer products. The investment follows Upexi’s announcement of a strategic shift toward a cryptocurrency-based treasury strategy aimed at generating long-term appreciation and yield for shareholders. Upexi has committed to the establishment of a Solana treasury strategy that includes the accumulation and staking of Solana. The investment underscores GSR’s confidence in Solana as a leading high-performance blockchain and GSR’s mission to bridge the gap between traditional capital markets and the digital asset ecosystem. “This investment highlights the growing demand for efficient, secure access to high-quality crypto assets in public markets,” said Brian Rudick, Head of Research at GSR. “Solana’s speed, scalability, and vibrant developer ecosystem make it an ideal foundation for long-term growth and we are honored to help accelerate the integration of digital assets into institutional portfolios.” “We’re proud to lead this investment and support a bold strategy centered around Solana, reflecting our deep belief in the future of DeFi and our commitment to growing the crypto ecosystem at every level,” said Jakob Palmstierna, President, GSR. “At GSR, we back founders, protocols, and builders not just with capital, but with expertise, liquidity, and real long-term support. This is a meaningful step forward – and just one part of our broader mission to help unlock the full potential of digital assets.” “It’s encouraging to see institutions exploring blockchain infrastructure in meaningful ways,” said Lily Liu, President, Solana Foundation. “GSR and Upexi’s announcement highlights growing interest in using Solana for real-world financial applications, and it’s another signal of how traditional finance and DeFi are starting to intersect.” GSR continues to invest in the broader digital asset ecosystem, offering capital solutions, liquidity, and strategic advisory services to partners at all stages of growth. About GSR The GSR Group brings over a decade of experience as a leading digital asset liquidity provider and multi-stage investor. Our full-spectrum offering includes OTC trading, market making, and treasury management. Deeply embedded in the digital asset ecosystem, we work with token issuers, institutional investors, and top-tier trading venues. Beyond capital, we deliver strategic insight, deep liquidity, and long-term partnerships to the founders, protocols, and platforms shaping the future of crypto markets. Follow GSR on X . Visit www.gsr.io for more information. Contact VP Public Relations Haley Malanga GSR haley.malanga@gsr.io AMB Crypto