Greek authorities have frozen access to a crypto wallet containing funds connected to the Bybit exchange hack, resulting in a loss of around $1.5 billion in ether.
Asset Freeze Following Hack
The Hellenic Anti-Money Laundering Authority (HAMLA) has frozen assets linked to what is regarded as the largest theft in crypto history as part of an ongoing investigation. HAMLA President Charalambos Vourliotis announced the intervention during a briefing with the Minister of Economy and Finance, Kyriakos Pierrakakis.
Link to Lazarus Group
The theft, which occurred on February 21, 2025, has been linked to the Lazarus Group, a hacking syndicate allegedly controlled by the North Korean regime. Cybercriminals reportedly exploited security weaknesses to steal ether, which was then distributed to multiple addresses.
Future Actions by Greek Authorities
As of the asset freeze, authorities in Greece have yet to provide detailed information about the seized holdings or the recipient of the transfers. However, local media have reported that this action marks a first for Greece in freezing illicit crypto assets, drawing international attention, including from the FBI, which has confirmed the freezing of suspicious digital assets.
The investigation continues, with authorities considering all possible scenarios, including the involvement of the wallet's owner in a global digital money laundering scheme.
