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In a stunning violation that has shaken the world of cryptocurrencies, Crypto Exchange Bybit has reported significant developments following a large hack attributed to alleged North Korean hackers.
The accident, part of a record of $ 1.5 billion Crypto HeistHe saw hackers convert at least $ 300 million in unrealizable funds. CEO Ben Zhou provided a detailed update on the situation through a post on the Social Media X platform (previously Twitter).
Bybit CEO Details The movement of stolen resources
“4.21.25 Executive summary of Zhou on hacked funds” revealed The fact that the total amount has been stolen amounts to around $ 1.4 billion, mainly comprising about 500,000 Ethereum (ETH).
The breakdown of hacked funds indicates that 68.57% are traceable, suggesting that a significant part of the stolen cryptocurrency can still be monitored through the blockchain.
On the contrary, 27.59% became dark, which means that these funds are no longer traceable and can be lost. In addition, 3.84% of the funds were frozen, potentially due to interventions by the police or regulatory bodies.
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The non -traceable funds are largely flowed mixers—Service that obscure the origin of the cryptocurrencies-Prima of being moved through bridges to peer-to-peer (P2P) and over-the-counter (OTC) platforms.
One of the mixers identified in recycling the stolen funds is Wasabi, linked to the People’s Democratic Republic of Korea (DPRK). According to Zhou, after a specific amount of Bitcoin (BTC) was developed through Wasabi, he subsequently inserted other mixing services such as Cryptomixer, Tornado Cash and Railgun.
According to reports, hackers used various cross and swap services, including Thorchain, Exch, Lombard, Lifi, Stargate and Sunswap, to facilitate the movement of activities.
The definitive destination for these funds seems to be the exchange services of currencies Fiat Otc or P2P, which allow the conversion of cryptocurrencies in traditional currencies without the need for a centralized exchange.
Brucco of stolen cryptocurrency
The update also sheds light on the position of the stolen activities. A substantial part of Ethereum was transferred, with 432,748 And—Prodosimally 84.45% of the total, valid for around $ 1.21 billion, converted by Ethereum in Bitcoin via Thorchain.
Of this amount, 67.25% (342,975 Eth, worth approximately $ 960.33 million) was converted in 10,003 BTC, distributed on 35,772 wallets with an average of 0.28 BT each.
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In the meantime, 1.17% (5,991 Eth, about $ 16.77 million) remains on the Ethereum blockchain on 12,490 wallets, with an average of 0.48 ETH each. In terms of Bitcoin, 944 BTC – about 6.34%, evaluated at $ 90.62 million – was sent to the Wasabi mixer, while the 531 BTC (equivalent to 18,206 ETH, or 3.57%) was transferred from Bitcoin to Bitcoin Bitcoin to BiTcoin in Bitcoin Bitcoin A Ethereum Via Thorchain.
In light of the current investigations, Bybit has received 5,443 cutting ratios relating to the Hack in the last 60 days, with 70 of those deemed valid. Zhou underlined the need for greater involvement of the community, inviting sizes to help decode the mixers and help to trace the remaining stolen funds.
First floor image from Dall-E, TradingView.com graphics