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Greece’s Landmark Cryptocurrency Seizure Unveils Global Crime Links
July 9, 2025 – In a groundbreaking operation, the Hellenic Anti-Money Laundering Authority in Greece has successfully executed its first-ever cryptocurrency seizure, marking a significant milestone in the fight against digital financial crime. This achievement was made possible with the assistance of Chainalysis, a leading blockchain analysis company.
The operation was initiated following the notorious $1.5 billion hack of the Bybit exchange in February 2025, which was attributed to North Korea’s Lazarus Group. The hackers employed a sophisticated laundering network to obscure the stolen funds’ trail. However, Greek authorities, equipped with advanced blockchain tools, managed to trace and freeze a portion of these funds, demonstrating the effectiveness of blockchain transparency in law enforcement.
In preparation for such incidents, the Hellenic Authority had strategically invested in Chainalysis Reactor, a blockchain analysis tool, back in 2023. This foresight enabled them to swiftly act upon detecting a suspicious transaction linked to the Bybit hack. The analysis revealed a direct connection between the suspect’s wallet and the primary wallets used in the heist, providing irrefutable evidence for authorities to freeze the assets.
The successful freezing of assets is not only a victory for Greece but also a significant step forward in global efforts to combat cryptocurrency-related crime. The case has been transferred to the prosecuting authority, transforming digital evidence into actionable legal outcomes.
Source: Blockchain.News
