Bybit CEO Details Movement Of Stolen Assets Zhou’s “4.21.25 Executive Summary on Hacked Funds” revealed that the total amount stolen amounts to approximately $1.4 billion, primarily comprising around 500,000 Ethereum (ETH). The breakdown of the hacked funds indicates that 68.57% remain traceable, suggesting that a significant portion of the stolen crypto can still be tracked through the blockchain. Conversely, 27.59% have gone dark, meaning these funds are no longer traceable and may be lost.Additionally, 3.84% of the funds have been frozen, potentially due to interventions from law enforcement or regulatory bodies.
According to Zhou, after a specific amount of Bitcoin (BTC) was processed through Wasabi, it subsequently entered other mixing services such as CryptoMixer, Tornado Cash, and Railgun. The hackers reportedly utilized various cross-chain and swap services, including Thorchain, eXch, Lombard, LiFi, Stargate, and SunSwap, to facilitate the movement of assets. The ultimate destination for these funds appears to be OTC or P2P fiat currency exchange services, which allow for the conversion of cryptocurrencies into traditional currencies without the need for a centralized exchange.
A substantial portion of Ethereum has been transferred, with 432,748 ETH—approximately 84.45% of the total—valued at around $1.21 billion, converted from Ethereum to Bitcoin via Thorchain. Of this amount, 67.25% (342,975 ETH, valued at about $960.33 million) has been converted into 10,003 BTC, distributed across 35,772 wallets with an average of 0.28 BTC each. Related Reading: Dogecoin Stalls After 42 Days Of Flat Price Action — Is A Breakdown Coming? Meanwhile, 1.17% (5,991 ETH, approximately $16.77 million) remains on the Ethereum blockchain across 12,490 wallets, averaging 0.48 ETH each.
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