"Bybit Hacker Launders $224 Million in 3 Days...18% of Stolen Ethereum"

It has been revealed that hackers who attacked the global cryptocurrency exchange Bybit laundered Ethereum worth about $224 million (approximately 320 billion won) over a period of about 3 days.

On-chain analyst EmberCN announced on the 25th through their X account that "Bybit hackers have laundered 89,500 Ethereum worth $224 million over the past 3 days." EmberCN stated, "This represents 18% of the stolen Ethereum (ETH)." The amount of Ethereum stolen from Bybit in this hack is 499,000.

Analysis suggests that the hackers are primarily using THORChain for money laundering. EmberCN analyzed that "the hackers appear to plan to exchange the remaining 410,000 Ethereum for other assets such as Bitcoin (BTC) and Dai (DAI) within the next 15 days," and that "currently, the hackers are mainly using THORChain to conduct cross-chain asset exchanges."