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Approximately one-quarter of the funds stolen from Bybit, as stated by CEO Ben Zhou, have reportedly vanished after passing through mixers and intermediary platforms.

Stolen cryptocurrency worth around $1.4 billion from Bybit, amounting to over 27%, has reportedly disappeared, as per the head of the digital asset exchange.

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Approximately one-quarter of the funds stolen from Bybit, as stated by CEO Ben Zhou, have reportedly vanished after passing through mixers and intermediary platforms.

Breaking News: The Greatest Heist in History? The Evolution of Bybit's $1.4 Billion Crypto Heist

In a shocking turn of events, Bybit, the digital asset exchange, has been struck by the largest crypto theft ever recorded, amounting to a staggering $1.4 billion. Wanna know what unfolded? Let's dive in!

Unmasked: The Bybit BreachThe hackers orchestrated an audacious maneuver, manipulating routine transfers from Bybit's ETH cold wallet by tampering with the smart contract logic. This sly trick allowed them to divert funds to an unknown address without raising immediate red flags.

The Laundering LagoonTo further obscure their tracks, the attackers employed privacy-centric tools like Wasabi, CryptoMixer, Railgun, and Tornado Cash for mixing transactions. Meanwhile, cross-chain transfers further complicated recovery efforts by hopping across different blockchain networks.

Fingers Pointing NorthThe finger of suspicion tipped towards North Korea's Lazarus Group, a notorious cybercriminal outfit known for infiltrating major crypto platforms.

The Bybit BluesDespite best efforts, only about 68.57% of the stolen funds remain traceable, while a concerning 28% have vanished into thin air. North Korean hackers have reportedly used these untraceable funds to evade authorities and perpetuate their criminal activities.

The New Wild WestAs the dust settles, the Bybit heist exposes both the vulnerabilities in centralized exchanges and the power of DeFi transparency. But the extensive use of privacy tools has made tracing and recovering the stolen funds an uphill battle.

Follow Us for Latest UpdatesDon't miss out on the crypto wild ride! Join us on Telegram, Facebook and X for the latest news, insights, and fresh perspectives. Stay tuned as we continue to monitor this rapidly evolving situation and bring you the facts.

[Disclaimer: Crypto investments involve a considerable degree of risk. Diligent research is essential before making any high-risk investment decisions. The Daily Hodl is not an investment advisor.]

Industry Announcements

  • FLock.io Partners with Alibaba Cloud on AI Mastery - April 24, 2025
  • Binance Blockchain Week Returns to Dubai - April 24, 2025
  • Keycard Unveils Shell, the Modular Wallet - April 23, 2025
  • BC.GAME Showcases Web3 Culture Untamed Arena - April 23, 2025
  • Falcon Finance Elevates sUSDf with Pendle Integration - April 23, 2025
  • Paydify Opens Doors to Global Crypto Payments - April 22, 2025
  • Whale.io Gears Up for Battlepass Season Two - April 22, 2025

[Cover Image: Group of hooded figures engaging in illicit activities in nighttime cityscape, courtesy of Midjourney]

In response to the Bybit heist, various altcoins and cryptocurrencies may see volatile fluctuations due to increased financial uncertainty. The attackers' utilization of privacy tools, such as Wasabi, CryptoMixer, Railgun, Tornado Cash, and others, may hinder the recovery of the stolen $1.4 billion. Meanwhile, the blockchain industry continues to innovate, with FLock.io partnering with Alibaba Cloud for AI mastery, Binance announcing the return of Blockchain Week in Dubai, and Whale.io preparing for Battlepass Season Two. These announcements demonstrate the resilience of the blockchain industry, emphasizing the potential to enable greater financial transparency and control over digital assets.

Over a quarter, approximating 27%, of the $1.4 billion in cryptocurrency stolen from Bybit earlier this year has become inactive, as revealed by the digital exchange's CEO.
Over a quarter of the approximately 1.4 billion dollars in cryptocurrency stolen from Bybit earlier this year has become untraceable, as reported by the CEO of the digital asset exchange.
Over $370 million of the approximately $1.4 billion in cryptocurrency stolen from Bybit earlier this year are now undetectable, as stated by the platform's CEO.
Nearly one quarter of the over one billion dollars in cryptocurrency swiped from Bybit back in January remains unaccounted for, as per statements made by the company's CEO.
A significant portion, equating to over 27%, of the approximately $1.4 billion in crypto that Bybit lost this year, has reportedly vanished, as per Bybit's CEO's announcements.
Over a quarter (27%) of the approximately $1.4 billion in cryptocurrency stolen from Bybit earlier this year has disappeared or gone undetected, as per statements from the crypto exchange's CEO.
Over a quarter, approximately 27%, of the approximately $1.4 billion in crypto stolen from Bybit earlier this year has become undetected or untraceable, as stated by the platform's CEO.
Large proportions, approximately 27%, of the 1.4 billion dollars in cryptocurrency stolen from Bybit earlier this year, are now presumed to be untraceable, as per the company's CEO.
Approximately $388 million, or over a quarter, of the $1.4 billion in cryptocurrency stolen from Bybit earlier this year, has become undetectable, as per the company's CEO.
Over one quarter of the approximately $1.4 billion in cryptocurrency stolen from Bybit earlier in the year is now unaccounted for, as per the company's CEO's statement.
Nearly 27% of the approximately $1.4 billion in cryptocurrency stolen from Bybit earlier this year has disappeared, as per the CEO of the digital asset exchange.
Nearly a quarter of the over $1.4 billion in crypto stolen from Bybit earlier in the year remains untraceable, as per the CEO of the digital asset exchange.

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