#BybitHackLaunderingInvestigation
🚨🚨 $1.5B Bybit Hack Exposes Critical Flaws; Global Manhunt for Laundered ETH Intensifies 🚨🚨
The crypto industry is reeling from one of the largest and most sophisticated breaches in history: the $1.5 billion Bybit hack on February 21, 2025. Attackers exploited a shocking vulnerability—UI manipulation—to trick multisig wallet signers into approving malicious transactions, proving even "secure" systems can crumble under social engineering. The stolen ETH was then funneled through a labyrinth of DeFi protocols, cross-chain bridges (like Thorchain and RenBridge), and non-compliant exchanges, with GarantEX emerging as a key player in laundering efforts.
💡 Key Updates:
Bybit x Chainalysis Alliance: A 10% bounty ($150M!) is on the table for recovered funds as blockchain forensics teams map the hackers’ moves.
Global Crackdown: Indian authorities arrested an alleged GarantEX co-founder tied to the laundering ring, signaling escalating law enforcement coordination.
1,000+ Addresses Flagged: Crystal Blockchain’s crisis team is tracking wallets in real-time, freezing assets where possible.
This case exposes chilling gaps in multisig security and the dark underbelly of cross-chain laundering. As regulators circle, the crypto community faces urgent questions: Can decentralized systems balance security with usability? How can exchanges fortify defenses against UI exploits?
⚠️ Stay alert: Double-check transaction details, avoid unsolicited approvals, and monitor updates as this saga evolves. Drop your thoughts below
