The hacker who attacked the Bybit exchange has laundered over half of the stolen Ethereum valued at up to $614 million within a week.
Current Situation with Money Laundering
In the last 6 days, the hacker has laundered 266,309 $ETH, approximately worth $614 million, which accounts for 53.3% of the total Ethereum stolen. The hacker washes 48,420 Ethereum per day via ThorChain. If this pace continues, the remaining 229,469 ETH will be laundered in 5 days.
Extent of the Bybit Attack
Overall, hackers stole $1.5 billion worth of funds by compromising the exchange’s ether cold wallet. The incident has drawn global attention.
Investigation and Reactions
The FBI called this case the 'TraderTraitor'. The agency stated that the attackers quickly transfer funds to bitcoin and other virtual assets, scattering them across thousands of addresses in different blockchains. The investigation links the incident to a North Korean group, although Pyongyang has not yet commented.
The Bybit incident highlights the critical importance of strengthening security measures in cryptocurrency exchanges. As investigations proceed, many remain concerned about the safety of their digital assets.
