OKX

Chain analysis platform EmberCN began tracking the funds shortly after they were stolen: on February 25, the company discovered that hackers had laundered more than 89,000 ETH worth about $224 million in about 60 hours.

A day later, the attackers laundered another 40000 5900 #ETH (worth about 113 million USD), bringing the total amount laundered to 135,000 ETH. They repeated the process on February 27, exchanging 71,000 ETH with a market value of $170 million.
By this point, about four and a half days after the attack, the attackers had successfully converted 260000 ETH into other crypto assets, averaging about 45,000 ETH per day. However, they still had another 292,000 coins worth $685 million left, and worked tirelessly day and night to clear them. According to
EmberCN, by February 28, the scammers had laundered another 59,800 ETH in loot to 266,000 ETH, leaving 233,000 ETH. Interestingly, on Saturday, March 1, the attackers paused the liquidation of the stolen funds and liquidated only a relatively modest 14,300 ETH worth $32.2 million.
The next day they resumed operations, converting 62,200 ETH, and by the morning of March 4, EmberCN reported that the attackers had laundered all remaining funds. Ben Zhou, CEO of
Bybit, has a slightly different opinion than the analytics company He stated that the company engaged in laundering.
In a post on X's website on Tuesday, he spoke about the attack and said that about 83% of the stolen funds worth about US$1 billion were converted into bitcoin (BTC) and distributed among about 7,000 wallets.
Of the total amount lost in the attack, 20% could not be traced and 3% were frozen. . Zhou also stated that most of the untraceable funds, approximately 79,655 ETH, were laundered through the eXch exchange.
the attacker, whom the FBI links to North Korea's Lazarus Group, processed another 40,233 ETH through the #OKX #web3 wallet. The attacker processed 40,233 ETH through the OKX web3 wallet.
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1. DEX Bluefin will launch BLUE tokens: the maximum supply is 1 billion
🍤32.5% of the tokens are used for user incentives. It is also planned to launch an aggregator for trading spot digital assets and "Bluefin Pro" will provide cross-margin trading and faster execution speed.
2. Cobo launches the world’s first one-stop custody and wallet technology platform, Cobo Portal
🥠It is the only platform in the industry that integrates four different wallet technologies: custody, MPC, smart contracts and exchange wallets into one interface, aiming to provide enterprises with simplified solutions to build highly scalable wallet infrastructure and securely manage digital assets.

Bitcoin put options are trading at a 2% discount to their call counterparts, which is in line with the trend of the past two weeks. When whales and market makers anticipate a potential correction, this figure usually exceeds 6%, reflecting the premium on put options.

The recent recovery in traditional financial markets has also been a factor: On Dec. 24, the S&P 500 Index reversed its one-month losses, and #bitcoin contributed to a rally above $98,000. In addition, the yield on 10-year U. S. Treasuries #rose to 4.59% from 4.23% two weeks ago, indicating that investors are seeking higher yields on their government bonds.
The recent rise in U. S. Treasury yields generally reflects expectations of higher inflation and higher government debt. In contrast, equities and scarce assets such as bitcoin often perform better when central banks are forced to stimulate the economy by injecting liquidity. Bitcoin's growth remains limited as investors worry about the risk of global economic stagnation. It is difficult to predict what impact these conditions will have on stock markets and real estate assets. Currently, bitcoin's correlation to the S&P 500 Index is relatively high at 64%.
the U. S. Federal Reserve (Fed) has revised its interest rate forecast downward, reducing the number of rate cuts by 2025 from four to two. This adjustment reduces the immediate risk of lower corporate earnings and potential real estate financing problems.
To assess market sentiment, it is important to analyze the bitcoin margin market. Unlike derivative contracts, which require a seller and a buyer, the margin market allows traders to borrow stablecoin and buy bitcoin on the spot or borrow #BTC and create a short position, betting on the price to fall.
Bitcoin Margin on #OKX The ratio of long to short positions is currently 25 times in favor of long positions (purchases). Historically, this ratio has exceeded 40x due to overconfidence, and levels below 5x in favor of long positions are generally considered bearish.
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