cyrpto 250m, Bybit, Chain, ETH, Hacker, launders, reports, spot Mark February 25, 2025 0 Comments

Bybit hacker launders $250M in ETH, Spot On Chain reports

Hacker Bybit launched 100,000 ETH, around $ 250 million, only four days after the largest cryptocurrency robbery.

According to an article on February 26 on X by the Blockchain Spot on Chain analysis company, the pirate who stole 499,000 Ethereum (Ethn) From the cold wallet of Bybit, divided the funds into small pieces and transfer them between several addresses.

Hacker used Thorchain (RUNE) to make crossed exchanges in Bitcoin (BTC), Dai (Dai), and other assets. The striker still has 399,000 ETH, a figure that exceeds the ETH held by the Ethereum and Vitalik Buterin Foundation, one of the co-founders of Ethereum.

In another development, parbit has refunded The 40,000 ETH loaned to him by Bitget after hacking. The CEO of Bitget confirmed the reimbursement on a position of February 25, stressing that the loan was granted without interest or guarantee in sign of support to the industry. She complimented the rapid recovery of Bybit, noting that she demonstrated the strength and resilience of the cryptocurrency market.

Confirmed that the 40,000 #Eth loaned to #AIM was returned to #Bitget. No interest, no guarantee – it was simply a question of supporting a peer in need. Great to see the Parbit completely recovered, and we never doubted the return of the loan.

This incident presented the strength and … https://t.co/nmcrfoy9kh

– GRACY CHEN @bitget (@gracybitget) February 25, 2025

As before reported By crypto.News on February 18, Bybit has already completely covered the losses resulting from the feat. The CEO of Bybit, Ben Zhou, assured the community that the exchange had taken measures to rebuild confidence and compensated for all the damage from the pirat to resist the impact.

To stabilize its assets, the exchange made purchases from ETH, obtained loans from Bridge Partners and obtained large whale deposits. Bybit’s active purchase activity can help compensate for sales pressure and perhaps support the prices of ETH, according to to Bitfinex analysts.

Ethereum is still in the correction phase despite these efforts. ETH is currently negotiated at $ 2,489, down approximately 9% over the 24 hours. The growing macroeconomic uncertainty and the impulse market have both contributed the decline.