OTCs at risk of a mass freeze in the wake of Bybit hack

Bitrace predicts that the over -the -counter services could face a large -scale gel wave after the massive borbit hack which led to a loss of more than $ 1.5 billion.

Bitrace, a joint tracing and analysis platform, warned Users that a free -free mass frost or OTC Products and services could be on the horizon, after the consequences of the Hack which would be executed by the North Korean pirate group, Lazarus group.

“In the coming months, there will be a wave of large -scale freezing targeting OTC groups and cryptographic payment companies,” said Bitrace in a translated analysis article.

Bitrace calls for the hacking of Bybit The “largest unique flight in the history of cryptocurrency” because it exceeded the previous hacks in losses, such as the Poly Network hack Of $ 611 million in 2021 and the loss of $ 620 million from Ronin Network in a exploit in 2022.

The analysis company raises examples of exploits passed by the Lazare group, such as the attack On the exchange of Japanese CMM cryptocurrency last year and the Poloniex break In 2023. The two hacks led to the freezing of a large number of commercial and over -the -counter portfolios, which has a largely impact on the cryptography industry.

Throughout their investigations, Bitrace noted that hackers tend to use not only platforms and mixers without license to wash their stolen funds. Pirates also use centralized platforms and over -the -counter merchants to treat funds.

Consequently, a large number of user accounts on the main exchanges have been intentionally or involuntarily to receive stolen funds. These accounts were subject to risk control, leading to commercial addresses of over -the -counter merchants and payment institutions frozen by Tether (USDT) After major hacks.

The attack on the appeal was discovered after the exchange detected unauthorized transfers of an Ethereum (Ethn) Cold wallet. Bybit then launched a survey on transfers, in partnership with experts in the blockchain legal medicine to trace stolen assets.

As before reported By Crypto.News, the CEO of Bybit, Ben Zhou, said that the exchange had managed to recover the suffered loss of piracy within two days. He also told merchants that a record audit report audit will be published soon to show that the exchange has “completely closed the gap of ETH”.