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Home»ETHEREUM NEWS»BYBIT says that despite hackers mixing funds with Thorchain, $ 1 billion in theft, which can still be tracked, can still be tracked.
ETHEREUM NEWS

BYBIT says that despite hackers mixing funds with Thorchain, $ 1 billion in theft, which can still be tracked, can still be tracked.

By Crypto FlexsMarch 4, 20252 Mins Read
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BYBIT says that despite hackers mixing funds with Thorchain, $ 1 billion in theft, which can still be tracked, can still be tracked.
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Ben Zhou, a BYBIT CEO, confirmed that 77%of the stolen assets stolen in Exchange’s recent $ 1.4 billion security violations, and still traced $ 117 billion.

In the March 4th update, ZHOU said that hackers successfully washed $ 280 million, or 20% of 499,000 ethics.

Investigators, meanwhile, frozen $ 42 million, accounting for 3%of the compromised funds.

ZHOU says 11 independent hunters have received $ 2.1 million compensation for freezing stolen assets. Among the best contributors were the mantle, parasov and blockchain investigator ZACHXBT.

Thorchain’s role

ZHOU said that attackers have shifted many parts of the stolen ETH to Bitcoin (BTC) through Thorchain, a decentralized platform designed for cross chain asset swap.

He said that Hackers were about 83% of the stolen assets (about $ 1 billion), which is about 417,348 eth. Then the fund was distributed to 6,954 wallets and the average balance per wallet was 1.71 BTC.

This activity has greatly increased Thorchain’s trading volume to more than $ 5.8 billion in violation of BYBIT over the past two weeks. Blockchain analyst EMBERCN also reported that the platform received about $ 5.5 million in this transaction.

Taylor Monahan, a blockchain security researcher, criticized the Thorchain. She insisted that their system worked in an isolated ecosystem that benefits the insiders and facilitates money laundering.

Monahan said:

“(Thorchain) is mostly in a small bubble of its own solid criminal, and insiders who find out how to directly or indirectly from crime.”

But ZHOU says that the funds that the funds have moved through the platform can still be tracked. According to him, hackers have centralized exchanges, OVERTHE-The Crant

EXCH and OKX participation

ZHOU, meanwhile, reported that the stolen assets moved through other platforms, including EXCH and OKX Web3 proxy.

ZHOU said 40,233 ETHs (about $ 100 million) were caused by OKX’s Web3 Proxy. Of these amounts, 16,680 ETH maintains the possibility of tracking, and 23,553 ETHs ($ 65 million) require additional information from OKX.

Meanwhile, 16% (16%) of the total theft spread through EXCHAN, who previously refused to exchange the BYBIT hacker’s illegal trade.

In a statement on February 23, EXCHANT insisted that he had washed the North Korean connector, but confirmed the following.

“(An) BYbit Hack’s unreasonable part is our address 0xF1DA173228FCF015F43F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F3F30D8F1123입니다. This was an isolated case and a fee that can be donated for public finance, the only part treated by exchange.

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