*LATEST: Bybit CEO Gives an Update on Hacked Funds*

🚨 *Bybit Update on Stolen Funds* 🚨

The Bybit CEO has just provided an update regarding the massive hack, revealing some concerning statistics:

- *$1.4B stolen* (~500,000 ETH) from the platform, with *88.87% still traceable*.

- Hackers are using sophisticated *mixers* to launder the stolen funds: *Wasabi, CryptoMixer, Railgun*, and *TornadoCash* are all in play.

- A staggering *86.29%* of the stolen funds have been converted to *BTC*—with *12,836 BTC* spread across *9,117 wallets*.

- The biggest hurdle facing recovery efforts: *Tracking funds through mixers*.

- Even with these challenges, *BTC mixers* have already washed *193 BTC* through *Wasabi* alone.

- A critical call: *Bounties needed*—out of *5,012 reports*, only *63* were valid, highlighting the difficulty of the investigation.

The complexity of this hack demonstrates how crucial it is to keep security measures tight and to stay vigilant in tracking illicit funds. The crypto community, regulators, and exchanges must come together to combat these growing threats.

Stay tuned for further updates as Bybit continues their efforts to recover the stolen assets. 💻🔍

#CryptoSecurity #Bybit #HackedFunds #Cryptocurrency #Blockchain