Bybit Exploiter washed 100% of the stolen funds after organizing the largest hack in the history of cryptocurrencies, but some loot may still be possible to recover Blockchain Security experts.
On February 21, Bybit was hacked for over $ 1.4 billion in ether with a liquid (STETH), a coat erected ETH (METH) and other ERC-20 tokens, which caused the greatest cryptographic theft in history.
Since then, the hacker has moved all 500,000 stolen ether (ETH), now worth $ 1.04 billion, primarily through the decentralized intersection of Thorchain, Blockchain Security Lookonchain Reported In the post of March 4 on X:
“Hacker #bybit asked all stolen $ 499 395 ETH (currently USD 1.04 billion), mainly by #thorchain.”
Source: Lookonchain
The Lazarus group in North Korea has transformed stolen influence, despite the fact that it was identified as the main culprit of the attack of many Blockchain analytical companies, including Arkham Intelligence.
Messages appear over two months after South Korean authorities sanctioned 15 North Koreans for allegedly generating funds for the North Korean nuclear weapon development program through cryptocurrency seizures and cyber theft.
Despite this, Blockchain experts hope that a tiny part of these funds can be frozen and recovered by Bybit.
Related: Can Ether recover over USD 3,000 after huge hacking Bybit USD 1.4 billion?
Some of the stolen funds can be recovered
According to Deddy Lavid, co -founder and general director of Blockchain Security Security Cyvers, some of the washed funds may still be identified despite the swaps of assets:
“When washing through mixers and cross chains, it complicates recovery, cyber security companies use intelligence in a chain, models based on AI and cooperation with exchanges and regulators still have little tracking and potentially freezing of assets.”
“Quick reaction is crucial when the funds are deeply darkened, recovery becomes much more difficult. The main stolen prevention of funds takes place mainly before or during Hack – he added.
On March 4, the General Director of Bybit, Ben Zhou confirmed that about 77% of funds were identifiable, but over $ 280 million stolen funds “overlooked darkness” and 3% of the funds were frozen.
Bybit continued to honor the payments of customers and fully replaced the stolen $ 1.4 billion in the ether on February 24, just three days after the attack.
Related: Bybit hackers can be behind the fraud of Solana Memecoin – Zachxbt
Cryptocurrency protection companies, such as Cywras, are working on pre -emptive agents to combat future attacks.
The emerging solution, known as the validation of offchain transactions, can prevent 99% of all hacks and cryptographic frauds by preventively simulating and confirming blockchain transactions in the offchain environment, said Michael Pearl, Vice President of the GTM strategy in Cyvers, said Cointegraph.
https://www.youtube.com/watch?v=tvmmj6r4so
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