88.87% of the stolen funds from Bybit can still be traced, and the hacker has begun to use Bitcoin mixers like Wasabi

BlockBeats News, March 20th, Bybit CEO Ben Zhou published a post on March 20th disclosing an executive summary of the stolen funds:

The hacker started using Bitcoin mixers: 1. Wasabi 2. CryptoMixer 3. Railgun 4. TornadoCash. The total amount of stolen funds is $1.4 billion, equivalent to around 500,000 ETH. Of this, 88.87% is still traceable, 7.59% has entered dark pools, and 3.54% has been frozen.

· 86.29% (440,091 ETH, around $1.23 billion) has been converted to 12,836 BTC, distributed across 9,117 wallets (an average of 1.41 BTC per wallet).

· 193 BTC primarily flowed into the Wasabi mixer. After mixing, the funds moved to various P2P providers. It is believed that this trend will grow, and more funds will be processed through mixers in the future. Decoding mixer transactions is currently the biggest challenge.

In the past 30 days, Bybit has received 5,012 bounty reports, of which 63 were valid bounty reports. More reports are welcome, and more bounty hunters capable of decoding mixers are needed because Bybit will require a lot of assistance in this area in the future.