Almost 70% of the Stolen $1.4 Billion ETH Is Traceable: ByBit CEO
Two months after the Bybit hack, more than $380 million of these stolen funds have gone dark on the mainnet, and have now been rendered untraceable.
Forensics show that around 432,748 ETH (or about 84.5% of the stolen funds) were instantly swapped into Bitcoin using the THORChain cross-chain bridge.
27.6% (around $386 million) has disappeared into the shadows of the crypto space.
In what has become the largest single hack in crypto history, North Korea’s notorious Lazarus group made off with a staggering $1.4 billion worth of crypto in a targeted hack on Bybit in February. Two months after the hack, more than $380 million of these stolen funds went dark on the main net and have now been rendered untraceable.
On the other hand, hope still lives, with an encouraging 70% of the total stolen funds being the opposite. ByBit CEO Ben Zhou continues to hold on to hope, and here’s an executive summary of the hack so far.