The Lazarus group has released the meme-coin QinShihuang to launder $26 million stolen from the Bybit exchange. Investigator ZachXBT tracked the movement of funds through the Solana and Binance Smart Chain blockchains. Lazarus used the Pump Fun platform to exchange the stolen tokens for cleaner assets to make tracking more difficult. This method, including "pump-and-dump," helped the group cover their tracks. Experts noted vulnerabilities in the security of cryptocurrency platforms and called for enhanced protection of user assets.
2/24/2025 7:22:39 AM (GMT+1)
The Lazarus group is using the meme-coin QinShihuang to launder $26 million stolen from Bybit through the Solana and Binance Smart Chain blockchains, exacerbating security issues on cryptocurrency platforms
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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