Bybit: 89% of stolen $1.4B crypto still traceable post-hack

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Related: Can Ether recover above $3K after Bybit’s massive $1.4B hack? Bybit paid $2.2M for Lazarus “bounty hunters”The crypto industry needs more blockchain “bounty hunters” and white hat, or ethical hackers, to combat the growing illicit activity from North Korean actors.

Related: Bybit exploit exposes security flaws in centralized crypto exchangesThe Bybit attack highlights that even centralized exchanges with strong security measures remain vulnerable to sophisticated cyberattacks, analysts say.“This incident is another stark reminder that even the strongest security measures can be undone by human error,” Lucien Bourdon, an analyst at Trezor, told Cointelegraph.

The CEO wrote in a March 20 X post:“Total hacked funds of USD 1.4bn around 500k ETH.88.87% remain traceable, 7.59% have gone dark, 3.54% have been frozen.”“86.29% (440,091 ETH, ~$1.23B) have been converted into 12,836 BTC  across 9,117 wallets (Average 1.41 BTC each),” said the CEO, adding that the funds were mainly funneled through Bitcoin (BTC) mixers including Wasbi, CryptoMixer, Railgun and Tornado Cash.

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Article Details

Author / Journalist: Cointelegraph by Zoltan Vardai

Category: Crypto

Markets: United StatesNorth KoreaMali

Topics: Blockchain Bybit Exchange Security Bounty Funds Hack Crypto Lazarus Stolen Million

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-20 @ 08:52:55 (19 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 525 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27188945

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