Fatima_Queen

Bybit CEO Ben Zhou revealed that nearly 28% of the $1.4 billion stolen from the exchange has officially 'gone dark' — meaning it’s vanished into the crypto underworld, flowing through mixers, cross-chain bridges, and peer-to-peer/OTC markets.

The stolen funds, initially converted to BTC via services like Wasabi, Tornado Cash, and Railgun, were then scattered across platforms like THORChain, Stargate, SunSwap, and others before being cashed out or traded peer-to-peer.

📊 $960M worth of ETH has been split into over 35,000 wallets, and just 3.84% of the funds remain frozen.

Bybit is still offering a 10% bounty on any recovered funds, with $2.3M already paid to onchain bounty hunters.

Meanwhile, privacy platform eXch announced it will shut down on May 1 after facing legal action tied to the laundering operation.

This incident highlights how difficult it remains to track and recover stolen crypto once it moves off centralized exchanges and into decentralized, privacy-focused services.

Stay safe out there, folks. ⚠️