Bybit Collaborates with HKU Students on Anti-Money Laundering Research Project

Bybit, a leading global cryptocurrency exchange, recently partnered with students from the University of Hong Kong to conduct an anti-money laundering research project. The collaboration aimed to provide students with practical experience in cryptocurrency investigations, machine learning, and anti-money laundering analysis.

The project centered on the Bybit security breach that occurred in February 2025. Students used the incident as a case study to explore how blockchain analytics and machine learning can be applied to identify laundering pathways associated with cryptocurrency mixer activity and transactions linked to the Lazarus Group.

Bybit provided real-world investigative context and industry guidance throughout the research process, allowing students to develop their skills in tackling complex industry challenges. The project involved tracing Lazarus-linked funds on the Bitcoin blockchain, understanding wallet addresses used during laundering operations, and developing machine learning approaches capable of identifying mixer-related transaction patterns.

The collaboration exposed students to the uncertainty and problem-solving demands commonly associated with real-world anti-money laundering and blockchain compliance work. Bybit's initiative supported engagement with emerging talent while allowing the company to contribute practical industry perspectives to academic research.