The Bybit Exploiter has released 100% of stolen funds after hearing the largest hack in crypto history, but some of the funds can still recover by blockchain security experts.
On February 21, Bybit was that -hack for More than $ 1.4 billion worth the liquid-staked ether (STET)Mantle staked eth (meth) and other ERC-20 tokens, resulting in Biggest crypto robbery in history.
The hacker has since moved all 500,000 stolen ether (ETH), which now costs approximately $ 1.04 billion, especially by decentralized crosschain protocol thorchain, blockchain security firm lookonchain reported In a post 4 post on X:
“The #Bybit Hacker has been -laundered all stolen 499,395 $ ETH ($ 1.04B at present), mainly by #thorchain.”
Source: Lookonchain
Lazarus Group of North Korea has been converting the stolen proceeds despite recognition as the main culprit behind the attack of many blockchain analytics firms, including Arkham Intelligence.
The news came within two months after South Korean authorities Enhanced 15 North Korean For the sake of developing funds for North Korea’s Nuclear Weapons Development Program through cryptocurrency heist and cyber theft.
However, blockchain security experts hope that a small portion of these funds can be frozen and recovered bybit.
Related: Can Ether above recover above $ 3K after a massive $ 1.4B hack bybit?
Some of the stolen bybit funds can recover
Some of the laundered funds may still be monitored despite swaping the asset, according to Deddy Lavid, co-founder and CEO of Blockchain Security Firm Cyvers:
“While launching through mixers and cross-chain swaps is complicated recovery, cybersecurity companies that use on-chain intelligence, AI-driven models, and cooperation with exchanges and regulators still have little opportunities to monitor and potentially freeze assets.”
“Rapid response is key when the funds are deeply missed, recovery becomes more difficult. The main stolen funding is mainly before or during the hack,” he added.
On March 4, Bybit CEO Ben Zhou confirmed Approximately 77% of funds were monitored, but more than $ 280 million of stolen funds “became dark,” while 3% of funds were frozen.
Bybit will continue to honor customer removal and completely replaced the stolen $ 1.4 billion in Ether On February 24, just three days after the attack.
Related: Bybit hackers may be behind Solana Memecoin Scams – Zachxbt
Crypto security firms such as cyvers work in pre-emptive steps to fight future attacks.
An emerging solution, known as a transaction verification in offchain, may avoid 99% of all crypto hacks And scams by preemptively simulated and validating blockchain transactions in an Offchain environment, Michael Pearl, vice president of the GTM approach to Cyvers, was told in the cointelegraph.
https://www.youtube.com/watch?v=TVMMJ6RR4SO
Magazine: Founder of thorchain and his plan on ‘vampire attack’ all defi
