BYBIT HACKERS has completed 499,000 ETH washing in Exchange in the largest hacking in Crypto History.
The overall washing process took 10 days and Etherum price dropped 23% ($ 2,780 ~ $ 2,130)
Thorchain, the main channel that hackers used to wash money, earned $ 5.9 billion in trading volume and $ 5.5 million due to hackers’ activities.
Ben Zhou, the CEO of BYBIT, responded to development through detailed analysis of BYBIT HACK SAGA.
He said 77%of the stolen ETHs are still tracked, 20%dark and 3%frozen.
The hacker used 6,954 wallets to switch 83%of the stolen ETH to BTC.
He concluded that 11 bounty hunters received $ 2.2 million since the search for theft started.
Last week, the Federal Investigation Bureau confirmed that the hacker was a terrible screw in North Korea. The soup started a recovery program that helps BYBIT to recover lost funds.
Sophisticated laundry mechanism
Perhaps the North Korean screw group, BYBIT Hacker, used a fast and multilayer approach to wash $ 1.5 billion in the stolen Ether Leeum.
They converted the liquid stained token (e.g. STETH) to ETH through the distributed exchange (DEX) to avoid freezing, and then divided the funds into thousands of wallets.
Thorchain, a cross chain protocol, was a major tool. They were reportedly washed 499,000 eth in 10 days and handled $ 5.9 billion.
They also replaced ETH using legs such as Bitcoin (BTC), DAI (DAI) and Chainflip, and the investigation was intensified and bypassed a mixer like Tone Cash.
The team added a layer of confusion using PUMPFUN, a Solana Memecoin platform, and made a token such as “Qinshihuang” to swell the value before a clean asset trading.
TRM Labs said more than $ 400 million was washed by the end of February and the total amount was washed until March 4, 2025.
The fund has moved through an anonymous exchange such as the KEC Dex and EXCH, and BTC is likely to have prepared Fiat through the OTC network.
This fast and large strategy overwhelms the overwhelming tracker, changing in a slow method and strengthening the attack as the largest encryption. BYBIT was able to recover only $ 40 million despite the enthusiastic effort.