Shocking! Bybit Hacker Launders $614M in Just Days – You Won’t Believe How! 😱

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In the shadowy corridors of the digital realm, a rogue spirit has emerged, orchestrating a grand ballet of theft and deception. The Bybit heist, a staggering $1.4 billion escapade, has seen over half of its ill-gotten Ethereum whisked away, like a magician’s trick, into the ether of THORChain, where ETH pirouettes into Bitcoin.

As the clock ticks, blockchain sleuths from Spot On Chain have unveiled a tale of audacity: 266,309 Ethereum (ETH), a treasure worth about $614 million, has been laundered in a mere five days. At this dizzying pace of 48,420 ETH per day, one can only wonder—will the remaining 233,086 ETH vanish into the digital abyss within another week? 🕵️‍♂️

🚨 The #Bybit hacker has laundered over 50% of the stolen $ETH within a week post-hack.

In the past 5.5 days, 266,309 $ETH ($614M)—53.3% of the stolen 499K ETH—has been washed away, mostly via #THORChain for $BTC, at a rate of 48,420 $ETH per day.

At this pace, with 233,086…

— Spot On Chain (@spotonchain) February 28, 2025

But wait! The hacker’s escapade has ignited a frenzy in THORChain (RUNE), sending transaction volumes soaring from a humble $80 million to a jaw-dropping $580 million per day since February 22. It’s as if the digital currency world has been struck by a bolt of lightning! ⚡

In just five days, the total transaction volume has ballooned to an astonishing $2.91 billion, with THORChain raking in a cool $3 million in fees. February 26 alone witnessed a record-breaking $859.61 million in swaps, followed by an encore of $210 million on February 27. Who knew laundering could be so lucrative? 💸

In a twist worthy of a spy novel, the U.S. Federal Bureau of Investigation has linked the nefarious act to North Korean hackers, dubbing the Bybit breach “TraderTraitor.” It seems the plot thickens, as this heist is but a chapter in a larger saga of cyber warfare sponsored by the state.

Meanwhile, forensic wizards at Sygnia Labs and Verichain have confirmed that Bybit’s fortress of security remains unscathed, despite the breach. A post-mortem revealed that the vulnerability lay in a compromised Safe Wallet developer machine, a veritable Pandora’s box for the attackers.

With malicious JavaScript code inserted into the Gnosis Safe UI, the hackers targeted Bybit’s cold wallet, proving that the new frontier of cybercrime is not just exchanges, but the very infrastructure that supports them. A chilling thought, indeed! ❄️

In response, Bybit has launched a digital watchtower to track the laundering of its stolen treasures and is offering a bounty to exchanges that assist in reclaiming the lost assets. A modern-day treasure hunt, if you will! 🏴‍☠️

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2025-02-28 08:27