Bybit CEO: About 500,000 ETH Stolen Funds, 77% Traceable, 20% Laundered on Black Market, 3% Frozen

BlockBeats News, March 4th: Bybit CEO Ben Zhou posted on social media on March 4th, sharing an update on the stolen funds: The total amount of stolen funds is $1.4 billion, approximately 500,000 ETH, with 77% still traceable, 20% laundered on the black market, and 3% frozen. Details:

· 83% (417,348 ETH, around $1 billion) has been converted to BTC through 6,954 wallets (each wallet holding an average of 1.71 BTC). This week and next week are crucial for fund freezing as funds will start moving through exchanges, OTC trades, and P2P settlements. The hacker primarily used THORChain to launder ETH into BTC.

· 361,255 ETH or $900 million, accounting for 72%, was laundered through THORChain and is traceable.

· 79,655 ETH (approximately 16% of the funds) was laundered through ExCH and is currently awaiting updates.

· 40,233 ETH or $100 million, representing 8%, was laundered through OKX Web3 proxy. 16,680 ETH of this amount is traceable, while the remaining 23,553 ETH or $65 million (about 5%) is untraceable and requires information from the OKX Web3 Wallet.