cyrpto 1.46b, Bybits, CEO, dark, funds, stolen Mark March 4, 2025 0 Comments

Nearly 20% of Bybit’s $1.46b stolen funds ‘gone dark,’ CEO says

The CEO of Bybit says that more than $ 200 million on $ 1.46 billion stolen on the stock market became not found due to mixing services.

Go throughThe CEO of S’s, Ben Zhou, says that almost 20% of funds are now not found, just under two weeks after the Stock Exchange lost more than $ 1.4 billion in a very sophisticated attack by North Korea-Cackers supported. In A post X On March 4, Zhou shared an update on the current survey on cyber attacks, revealing that around 77% of the stolen funds remain traceable, but almost 20% have “become dark” thanks to mixing services.

3.4.25 Executive summary on hacked funds:
Total hackers of 1.4 billion USD around 500,000 ETH, 77% are still traceable, 20% have become dark, 3% have been frozen.
Breakdown:
– 83% (417,348 ETH, ~ 1 billion dollars) were converted to BTC with 6,954 wallets (on average 1.71 BTC each). This and …

– Ben Zhou (@benbybit) March 4, 2025

The pirate mainly used ThorchainA transversal liquidity protocol which has been examined for the reluctance to prevent RPDC hackers from laundering the funds, to convert Ethereum stolen (Ethn) in bitcoin (BTC). About 83% of funds, or about 1 billion dollars, were exchanged in BTC on 6,954 wallets.

“This and the coming week are essential for freezing of funds, because the funds will begin to erase exchanges, over the counter [over-the-counter] and P2P [peer-to-peer]. “”

Ben Zhou

Like crypto.News reported Earlier, while other protocols took action to prevent the movement of stolen funds, Thorchain validators have not taken significant measures. Pluto, a basic contributor, resigned to protest after the nodes rejected a governance proposal to stop ETH transactions.

Among the stolen funds, 72% ($ 900 million) crossed Thorchain, who remains traceable, explains Zhou. However, around 16% of funds, totaling 79,655 ETH (~ 160 million dollars), became dark via Exch, a centralized cryptography mixture service.

Zhou has mentioned that the exchange is still awaiting an update on these transactions. Another part of the funds (~ 65 million dollars) is also not found because Zhou says that more information is necessary in the OKX web3 portfolio. In addition, the CEO of Bybit revealed that 11 games, including Mantle, Paraswap and Blockchain Sleuth Zachxbt, helped freeze some of the funds, which leads to more than $ 2.1 million in bonus payments.