Bybit Hacker Resumes Money Laundering of Stolen ETH
The Bybit hacker has resumed laundering stolen ETH, with only 156,000 ETH left unprocessed and expected to be cleared in three days.
- The Bybit hacker has resumed laundering stolen ETH.
- Only 156,000 ETH of the 499,000 ETH remains unprocessed.
- At the current pace, all stolen funds may be laundered within three days.
Bybit Hacker Accelerates Money Laundering
Since yesterday, the hacker responsible for the Bybit exploit has resumed laundering stolen Ethereum (ETH). Out of the 499,000 ETH initially taken, only 156,000 ETH remains unprocessed. Given the current speed of movement, the entire stolen amount could be laundered within the next three days.
Massive Fund Transfers in Progress
The hacker has been actively distributing ETH through various methods, including mixing services, cross-chain swaps, and decentralized finance (DeFi) platforms. These tactics make it challenging for authorities and blockchain tracking firms to trace and recover the funds.
Potential Market Impact
Such large-scale money laundering can influence the Ethereum market, potentially increasing volatility as the funds are swapped or cashed out. Additionally, the incident raises concerns over security measures within centralized exchanges and the need for improved tracking solutions to combat illicit activities.
Ongoing Investigations
Authorities and cybersecurity experts continue to monitor the movement of the stolen assets. Bybit has yet to provide a new statement regarding recovery efforts, but the rapid processing of funds suggests time is running out for potential intervention.
