Oh, crypto, the wild west of finance. Ben Zhou, the big cheese at Bybit, says most of the swiped crypto is still on the grid – but a chunk of it has gone all ‘Witness Protection Program’. Meanwhile, BlackRock’s Larry Fink did a 180 from calling crypto a ‘money laundering index’ to hugging it tight. Now they’re sitting on a mountain of Bitcoin. Talk about a flip-flop! 🔄
So, Where’s the Swiped Cash from Bybit Hiding?
Ben Zhou dropped some crypto tea on his X account, saying most of the Bybit heist money is still trackable. But 7.59%? Poof! Vanished like a magician’s rabbit. The rest? On ice. 🧊
Hacker started to use mixers: 1. Wasbi 2. CryptoMixer 3. Railgun 4. TornadoCash
Total hacked funds of USD 1.4bn around 500k ETH. 88.87% remain traceable, 7.59% have gone dark, 3.54% have been frozen.
Breakdown: – 86.29% (440,091 ETH,…
— Ben Zhou (@benbybit) March 20, 2025
Zhou’s like, “Let’s crack these crypto mixers!” He’s calling all bounty hunters to play detective and find the dirty money. But eXch is all, “Nuh-uh, not us!” 🕵️♂️
Elliptic called the Bybit hack the mother of all heists and pointed a finger at Lazarus Group, the ‘hackers with a cause’ (allegedly). North Korea’s nuke program is getting a crypto boost, how… delightful. 😬
Decoding these transactions? Zhou says it’s the “number one challenge.” Good luck with that, buddy. 🤷♀️
Arkham Analytics spotted some of the stolen BTC moving to a mystery address. Spooky! 👻
How Much Naughty Crypto Cash is Getting Laundered?
Europol says crypto’s the criminal’s BFF for laundering. During COVID, crypto laundering was like, “Hey, let’s party!” 🎉
Chainalysis says the dirty crypto volume was like a rollercoaster in 2021, 2022, and 2023. Up, down, all around, but still sky-high. Criminals are getting fancy with their crypto capers. 💼
Oh, and crypto mixers and bridges? They’re the tool of choice for the crypto crooks. Law enforcement is trying to throw cold water on the party, but it’s still raging. 🥳
Blame the Tools or the Tool Users?
The crypto crowd is all, “Free the developers!” They’re like, “It’s not a crime to make a tool that can be used for good OR evil.” But prosecutors? They’re playing hardball. Developers, beware! 👮♂️
As for a change in the crypto legal landscape, well, let’s just say it’s not time to pop the champagne yet. 🍾
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2025-03-20 22:13