Bybit’s $1.23B ETH Heist: Tracking the Ghost Chain, Seeking Crypto Sleuths
- Bybit hacker launders $1.23B in ETH using mixers like TornadoCash, Railgun, and Wasabi
- 88.87% of hacked funds remain traceable, with 3.54% frozen
- Bybit offers bounties for assistance in decoding mixer transactions
The digital trail of the massive Bybit hack is getting clearer, revealing the hacker’s elaborate efforts to launder the stolen 500,000 ETH (worth a staggering $1.23 billion).
The pilfered ETH was converted into 12,836 BTC and then scattered across a jaw-dropping 9,117 wallets, averaging just 1.41 BTC per wallet. To further muddy the waters and ensure anonymity, the attacker employed crypto mixers like Wasabi, CryptoMixer, Railgun, and TornadoCash.
Related: FBI: North Korea’s “TraderTraitor” Gang Behind $1.5B Bybit Hack
How Much of the Stolen Crypto Has Bybit Managed to Track?
Despite these intricate maneuvers designed to obscure the funds, investigators have managed to trace a significant 88.87% of the stolen cryptocurrency, offering a glimmer of hope for recovery.
However, a frustrating 7.59% of the funds have vanished without a trace, adding a layer of complexity to t…
The post Bybit’s $1.23B ETH Heist: Tracking the Ghost Chain, Seeking Crypto Sleuths appeared first on Coin Edition.
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Bybit’s $1.23B ETH Heist: Tracking the Ghost Chain, Seeking Crypto Sleuths
- Bybit hacker launders $1.23B in ETH using mixers like TornadoCash, Railgun, and Wasabi
- 88.87% of hacked funds remain traceable, with 3.54% frozen
- Bybit offers bounties for assistance in decoding mixer transactions
The digital trail of the massive Bybit hack is getting clearer, revealing the hacker’s elaborate efforts to launder the stolen 500,000 ETH (worth a staggering $1.23 billion).
The pilfered ETH was converted into 12,836 BTC and then scattered across a jaw-dropping 9,117 wallets, averaging just 1.41 BTC per wallet. To further muddy the waters and ensure anonymity, the attacker employed crypto mixers like Wasabi, CryptoMixer, Railgun, and TornadoCash.
Related: FBI: North Korea’s “TraderTraitor” Gang Behind $1.5B Bybit Hack
How Much of the Stolen Crypto Has Bybit Managed to Track?
Despite these intricate maneuvers designed to obscure the funds, investigators have managed to trace a significant 88.87% of the stolen cryptocurrency, offering a glimmer of hope for recovery.
However, a frustrating 7.59% of the funds have vanished without a trace, adding a layer of complexity to t…
The post Bybit’s $1.23B ETH Heist: Tracking the Ghost Chain, Seeking Crypto Sleuths appeared first on Coin Edition.
Read More
Can the Biggest Ethereum Upgrade Since the Merge Spark an ETH Price Rally?