North Korea's Lazarus Group laundered an additional 62,200 Ether, worth $138 million, from the Bybit hack on February 21 on March 1 — leaving only 156,500 Ether untransferred, an anonymous cryptocurrency analyst noted.

About 343,000 Ether of the 499,000 Ether stolen from the $1.4 billion Bybit hack has been moved, user X EmberCN stated, who hopes the remaining funds will be cleared in the next three days.

343,000 Ether moved corresponds to 68.7% of the stolen funds — up from 54% on February 28.

EmberCN previously noted that money laundering activities have slowed down amid the FBI's efforts to urge node operators, cryptocurrency exchanges, bridges, and others to block transactions related to Bybit hackers.

Bybit hackers still have $346 million in Ether to launder if they wish. Source: EmberCN

The FBI has shared 51 Ethereum addresses operated by or linked to Bybit hackers, while blockchain analytics company Elliptic has flagged more than 11,000 cryptocurrency wallet addresses that may be linked to them.

Cryptocurrency analytics firm Chainalysis stated that hackers converted some of the stolen Ether into Bitcoin, DAI stablecoin, and other assets through decentralized exchanges, cross-chain bridges, and instant swap services without a Know Your Customer protocol.

One of those protocols includes the THORChain cross-asset swap protocol. The developers behind this protocol have faced heavy criticism for facilitating a significant portion of transactions conducted by North Korean hackers.

One of the THORChain developers, known as 'Pluto', stated that they would no longer contribute to this protocol after the vote to block transactions related to North Korean hackers was canceled.

In a note sent to Cointelegraph, THORChain founder John-Paul Thorbjornsen stated that he is no longer involved in this cross-chain protocol, while pointing out that no cryptocurrency wallet addresses approved by the FBI and the Office of Foreign Assets Control of the Treasury interacted with this protocol.

The Bybit hack worth $1.4 billion on February 21 so far is the largest exploitation in the cryptocurrency industry — double the damage from the $650 million Ronin bridge hack on March 23, 2022.