3 hours ago
Over 77% of the funds stolen successful a grounds hack connected crypto speech Bybit stay traceable, portion 20% person "gone dark" and are untraceable, CEO Ben Zhou said successful an update connected X aboriginal Tuesday.
“This and the coming week is captious for money freezing arsenic the funds volition commencement to wide astatine exchanges, otc and p2p,” Zhou said, referring to the hackers' efforts of laundering the wealth and converting it to cash.
Some 417,348 ether (ETH), valued astatine astir $1 cardinal stay traceable connected the blockchain aft being moved utilizing privacy-focused THORChain. Another 20% of the funds, astir 79,655 ETH oregon $200 million, person "gone dark" done ExCH.
A smaller portion, 40,233 ETH oregon $100 million, had passed done OKX’s web3 proxy, but 23,553 ETH, worthy $65 million, stay untraceable.
Zhou said the hackers converted 83% of the stolen ETH — 361,255 ETH; oregon $900 cardinal — into BTC, distributing it crossed 6,954 wallets, with an mean of 1.71 BTC per wallet utilizing THORChain.
THORChain has processed $4.66 cardinal successful swaps successful the week ending March 2, the highest tally connected record, according to information root DefiLlama — making it implicit $5.5 cardinal successful fees from the illicit flows.
North Korean hacking radical Lazarus targeted Bybit successful precocious February by injecting malicious codification into SafeWallet, a third-party wallet level utilized by the exchange, to bargain billions successful lawsuit assets from the exchange.
The attackers compromised a developer’s device, enabling them to manipulate a regular wallet transportation and siphon disconnected astir $1.5 cardinal successful ETH.
Bybit afloat returned to a 1:1 backing of lawsuit assets days aft the attack, arsenic CoinDesk antecedently reported. Address enactment suggests much than $400 cardinal were purchased done over-the-counter trading, with different $300 cardinal brought straight from exchanges.
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