88% of the stolen funds still traceable, 8% gone dark through crypto mixers

The CEO of Bybit, Ben Zhou, reported that 88% of the stolen funds of the exchange are still traceable, but the hackers accelerate obscure efforts with Bitcoin mixers.

On March 20, Ben Zhou’s last summary of the executive Bybit stolen funds reveals that 88.87% of the $ 1.4 billion stoves in crypto are still traceable. Of this, 86.29%, equivalent to $ 1.23 billion, were converted to 12,836 bitcoin (BTC) and spread over 9,117 wallets, on average 1.41 BTC each. According to Ben Zhou, the pirates began to use Bitcoin mixers to blur the history of stolen funds.

The funds were originally Siphone in Ethereum (Ethn), then converted to BTC. The conversion was mostly made through the supplier of transversal liquidity Thorchain, which entered waiting Earlier for his reluctance to collaborate to interrupt pirate whitening activities. Even a basic trunk contributor resigned in protest.

After traveling mixers, the funds are channeled through various P2P suppliers. Ben Zhou said that this trend would likely develop as more funds will be treated by mixers. Already, 7.59% have become dark, which means that they can no longer be traced.

Only 3.54% were frozen from the Last report. The first tranche of stolen funds worth $ 42.89 million was frozen In a single day thanks to the coordinated action of Tether, Thorchain, ChangeNow, Fixedfloat, Avalanche, Coinet, Bitget and Circle. In addition, the Binance and Huobi exchanges frozen some of the accounts linked to the stolen funds, based on intelligence Supplied by the Elliptic Blockchain analysis company.

In addition to updating the status of the fund, Zhou indicated that 63 of the 50,12 bonus reports submitted during the last month were deemed valid. He also reiterated the advocacy for helping to decode the transactions of mixers, declaring that he remains “the challenge n ° 1” which is currently confronted.

Live monitoring of portfolio addresses of stolen funds can be seen on the website Launched by Bybit to help efforts to recover funds from crowdsource. People who provide information that leads to freezing in these portfolios will be rewarded with 5% of the value of frozen funds within the framework of BOUNTY de Bybit program.