Bybit Theft: $1.4B Now Untraceable

Bybit Hack: $1.4 Billion Stolen, Significant Portion Untraceable

• Bybit reported a $1.4 billion crypto theft, primarily involving 500,000 Ethereum (ETH).
• Approximately 68.57% of the stolen funds remain traceable on the blockchain.
• 27.59% of the funds have become untraceable after being laundered through mixers.
• 3.84% of the stolen assets have been frozen due to potential law enforcement actions.
• The hackers used services like Wasabi and Thorchain to obscure and move funds.

The Bybit hack involved a staggering $1.4 billion loss, with only 68.57% of assets traceable while 27.59% are lost in mixers like Wasabi.