Greek anti-money laundering authorities have traced and frozen a cryptocurrency wallet containing funds stolen in the record-breaking $1.5 billion hack of the Bybit exchange, a heist widely attributed to North Korean state-sponsored hackers.
The breakthrough, hailed by officials as a significant success in the global fight against cybercrime, was revealed after the head of Greece’s Anti-Money Laundering Authority, Charalambos Vourliotis, briefed government ministers on the case this week.
The operation began last month after the authority received a tip about a suspicious transaction involving a user on a local Greek crypto exchange.
Using advanced forensic tools, analysts traced the Ethereum back to the massive Bybit hack of February 2025, an event that prompted a public alert from the U.S. Federal Bureau of Investigation.
“The seizure of over €700 million in criminal proceeds within one year proves that institutions in Greece can act swiftly, effectively and with transparency,” said Minister of National Economy and Finance Kyriakos Pierrakakis after the briefing. “The Authority is a cornerstone in our national push to fight financial crime.”
Mr. Vourliotis, a former Supreme Court deputy prosecutor, reported that his agency’s work in 2024 led to the identification of the more than €700 million in illicit funds and the issuance of over 200 asset freeze orders.
The ministry has backed the authority with over €1 million in new funding for IT infrastructure to bolster its capabilities. Officials said this case demonstrates that Greece is now better equipped with the digital tools and expertise needed to track and seize illicit assets moving through the complex world of cryptocurrency.
