"Bybit Hacker's Stolen Assets: 20% Untraceable, 3% Frozen"

It has been revealed that 20% of the approximately 500,000 Ethereum (ETH) stolen by the Bybit hacker is now untraceable.

On the 4th (local time), Bybit CEO Ben Zhou announced via X that "77% of the approximately 500,000 ETH (worth $1.4 billion) that was hacked is still traceable," adding that "20% is untraceable, and 3% has already been frozen." He continued, "This week and next week will be a very critical period," explaining that "there is a high possibility that the hacked funds will be cashed out through exchanges, over-the-counter (OTC), and peer-to-peer (P2P) transactions."

Most of the stolen Ethereum appears to have been swapped for Bitcoin (BTC). CEO Ben Zhou stated, "83% of the stolen Ethereum was converted to Bitcoin, primarily using ThorChain," and that "the amount is distributed across 6,954 cryptocurrency wallets, each holding an average of 1.71 BTC." He added, "8% of the hacked funds (40,233 ETH) was converted through the OKX Web3 proxy," and that "while 16,680 ETH of this amount is traceable, tracking the remaining 23,553 ETH requires cooperation from OKX."

He also mentioned the payment of bounties. Zhou said, "11 institutions and individuals worked to freeze the stolen funds," adding that "we paid them bounties worth approximately $2.17 million." Previously, CEO Ben Zhou had stated that he would reward those who help recover the hacked assets.