Tag: Bybit

Half of $1.4B Stolen in Bybit Hack Vanishes Through Crypto Mixers

Three months after one of the largest crypto heists in history, nearly $644 million of the $1.4 billion stolen from Bybit has vanished from traceable blockchain records, according to new data.

bybit

Blockchain analysis shows that about 49.5% of the funds remain traceable, while only 4.5% ($63 million) has been frozen by exchanges and law enforcement. The majority of the stolen funds have been processed through sophisticated cryptocurrency mixing services designed to obscure transaction trails.

The largest portion — $247.5 million in Bitcoin (966 BTC) — was funneled through Wasabi Wallet, a privacy-focused tool. Another $94.1 million was laundered through eXch, a mixing service that falsely claimed to shut down in April, but continues to operate via private back-end APIs, according to TRM Labs. The bybit hacks however keep getting out of hand.

Other privacy tools used include:

  • Tornado Cash: $2.5M in ETH
  • Railgun: $1.7M in ETH

These services obscure transactions by pooling user funds, making it nearly impossible to trace where the crypto ends up.

The attack’s origin was equally concerning. A report by Safe Wallet revealed that the North Korean hacker group TraderTraitor gained access to Bybit funds by compromising a developer’s laptop. Disguised as a stock trading simulator, a malicious Docker project led to the installation of malware, which stole AWS session tokens and bypassed multi-factor authentication.

Despite initial containment efforts, the incident reveals critical vulnerabilities in Web3 security hygiene, and highlights the ongoing challenges of crypto asset recovery once funds enter opaque mixing systems.

You might also like: AIXBT Price Eyes $0.50 After 25% Rebound and Surge in Trading Volume

Breaking ! Bybit’s Next-Level Move: 500x Leverage on Stocks & Commodities—Crypto Goes Wall Street

Bybit’s seriously leveling up. The crypto exchange is about to bring Wall Street vibes to Web3 by offering traditional financial products like U.S. stocks (hello, Apple & MicroStrategy) and commodities like gold and crude oil. CEO Ben Zhou dropped the news during a livestream on May 3, with the feature set to go live by the end of Q2 2025.

bybit

Can Bybit Beat eToro & Kraken at the Hybrid Game?


Zhou’s vision? Turn it into a powerhouse, mixing crypto with traditional assets. So, along with trading crypto, users will soon be able to buy and sell blue-chip U.S. stocks, as well as major commodities. And they’re not playing it safe—they’re offering up to 500x leverage on some of these trades. That’s huge for the high-risk, high-reward crowd.

“We want to bring Wall Street to Web3,” Zhou said in the livestream. Bold move.

It is now stepping into direct competition with platforms like eToro and Kraken, both of which have already made moves into hybrid trading. For example, eToro saw 96% of its revenue from crypto in 2024, but they’ve also been offering traditional investments since 2013. Kraken is jumping in too, with zero-commission trades on over 11,000 U.S. stocks and ETFs, plus forex futures.

Bybit’s Big Pivot: Ditch NFTs, Double Down on AI


Bybit’s not just betting on traditional finance, though. They’re also doubling down on AI. The exchange is integrating tools like CryptoLens and TradeGPT for real-time analytics and market insights. Plus, their AI is multilingual, helping them keep it global in over 160 countries.

But not everything’s been smooth sailing for Bybit. In February, they were hit with a massive $1.5 billion ETH hack—biggest in crypto history. Since then, they’ve been trying to bounce back. Zhou shared that most of the stolen funds are still traceable, but a chunk of it has gone “dark.” To recover, Bybit’s been doing audits and securing emergency loans.

Following the hack, Bybit pulled the plug on its NFT Inscription and IDO markets, focusing instead on traditional trading. It’s a bit of a vibe shift for the platform, but they’ve made it clear they’re staying strong.

What Does This Mean for Retail Traders?


Bybit’s 500x leverage is crazy high compared to what we’re used to seeing in the traditional market. It could bring some serious risk, so it’ll be interesting to see how regulators react and whether Bybit’s really prepared for all the potential scrutiny.

As for trust? Bybit’s quick to own up to the hack and reassure users their assets are backed and secure. They’ve got their reserves sorted, and withdrawals are still going strong.

You might also like: Curve Finance’s X Account Hacked to Promote Fake CRV Airdrop

Bybit Hack Breakdown: $1.4B in Crypto Stolen, But Most of It Can Still Be Tracked

Okay, here’s the lowdown. Bybit just dropped an update on that insane $1.4 billion hack they suffered, and it’s a wild ride.

bybit

Bybit CEO Ben Zhou says hackers managed to swipe around 500,000 ETH, and yeah — they tried to cover their tracks hard. But here’s the twist: more than two-thirds of that money is still traceable.

Let’s unpack.

What the Hackers Did to Bybit

So, once the hackers got the ETH, they didn’t just sit on it. They immediately ran it through privacy tools like Wasabi, then bounced it through CryptoMixer, Tornado Cash, and Railgun — all stuff designed to hide money on the blockchain.

Next stop? Cross-chain bridges like Thorchain, LiFi, SunSwap, Stargate, and a bunch of others. These let them move crypto between chains, making it even harder to follow. Finally, they dumped the funds on OTC desks and peer-to-peer exchanges to turn that crypto into real-world cash.

ETH Got Turned Into BTC

The biggest move? The hackers converted a huge chunk of ETH to Bitcoin. We’re talking over 432,000 ETH, or $1.2 billion, shifted off Ethereum. Nearly 343,000 ETH got turned into 10,003 BTC and split into 35,000+ wallets. Most of those wallets now hold tiny pieces — around 0.28 BTC each.

And guess what? Some of that BTC went back through mixers, and even a small amount got converted back into ETH.

So, What’s the Score Now?

Here’s the current status, straight from Zhou:

  • $1.24B (68.6%) is still traceable
  • $386M (27.6%) has gone dark
  • $53.6M (3.8%) is frozen

Yep, most of the stolen funds haven’t disappeared completely — they’re still being tracked.

Enter: LazarusBounty.com

To fight back, Bybit launched a platform called LazarusBounty.com. It’s basically a bounty pool with $140 million up for grabs for anyone who can help trace or freeze the stolen crypto.

So far:

  • 5,400+ reports have been filed
  • Only 70 of them were valid
  • $2.3M has already been paid out
  • 12 active bounty hunters are grinding away right now

The rules are simple: 5% to the person who helps trace the funds, 5% to whoever freezes them.

TL;DR?

This isn’t just another lost-crypto story. Bybit is actually chasing down the money — and making some real progress. Zhou’s final message was basically a call to action: if you’re into blockchain sleuthing, now’s your moment.

There’s still hundreds of millions left to recover. And honestly, the fight’s just heating up.

You might also like: XRP Might Be Set to Explode Coinbase Futures Could Spark 70% Pump!

5 Shocking Ways Bybit Hackers Crashed ETH Below $1,900—Panic Selling Ensues!

Ethereum just took a nasty dive, slipping below $1,900, and all signs point to hackers dumping stolen token as the trigger.

Over the past 12 hours, two fresh wallets moved 14,064 ETH through THORChain and Chainflip, later flipping it for $27.5 million in DAI at an average price of $1,956 per 1 token.

According to Lookonchain, these wallets racked up it in multiple transactions before swapping it—one using CoW Swap, the other using Uniswap. Looks like they’re shuffling funds across chains to dodge tracking while securing their bag in stablecoins.

Bybit Hacking Consequences

Traders are freaking out, and analysts believe low liquidity is making things worse. With all this selling pressure, the token couldn’t hold key support levels and plunged another 6.36% today.

As of now, its sitting at $1,890, down over 6% in the last 24 hours. It was already struggling at $1,900, but instead of bouncing back, it cracked further under the pressure.

Bybit, Eth

🤔 Why’s ETH actually dropping?

There’s still no clear reason, but this hacker sell-off is definitely a major factor. With such huge volumes being dumped, it’s no surprise it completely is taking a hit.

Also Read: Coinbase-Backed Web3 Security Platform Harpie Shuts Down—Here’s What Users Need to Do!

Bybit Hacker Launders $1.4B in Record Time, Security Experts Race to Recover Funds

Bybit’s hacker laundered $1.4B in 10 days via THORChain. Experts suspect Lazarus Group. Security firms still tracking stolen funds.



The hacker behind the biggest crypto theft ever just pulled off the impossible—laundering all $1.4 billion worth of stolen funds in just 10 days. The exploit, which happened on February 21, saw over 500,000 ETH vanish from Bybit. The attacker used THORChain, a decentralized exchange that allows seamless crypto swaps without centralized oversight.

Blockchain security firm Lookonchain confirmed that 499,395 ETH ($1.04B at today’s prices) has been fully laundered. The original theft was $1.4B, but due to Ethereum’s price drop from $2,839 to $2,067, the stolen funds’ value also decreased.

Experts believe North Korea’s Lazarus Group is behind the attack. South Korea even sanctioned 15 North Koreans for funding nuclear weapons through crypto hacks. Despite advanced laundering techniques, security firms think they might still track some stolen funds.

Bybit moved fast, replacing all $1.4B by February 24, assuring users that withdrawals remained unaffected. CEO Ben Zhou stated that 77% of the funds are still trackable, but over $280M is completely gone.

Crypto firms are now pushing for better security, with off-chain transaction validation emerging as a potential fix to stop future hacks before they happen.

Also Read: White House and Lawmakers Push Back Against IRS DeFi Broker Rule

Bybit Hacker Moves $605M ETH—THORChain Under Fire as Crypto Heist Sparks Chaos

Bybit hacker launders $605M ETH via THORChain. FBI confirms Lazarus Group’s role. Devs quit, crackdown incoming, crypto world on edge.

The Bybit hacker is moving fast, already laundering $605M ETH (54% of stolen funds) through THORChain, a decentralized swap protocol now facing major heat. The $1.5B Bybit hack on Feb. 21 is officially the biggest crypto heist ever, with blockchain sleuths confirming North Korea’s Lazarus Group is behind it.

THORChain’s swap volume soared past $1B after the hack, but backlash came fast. A vote to block Lazarus-linked transactions got overturned, leading to core dev “Pluto” quitting and validator TCB threatening to leave if nothing changes.

Meanwhile, the FBI is stepping in, urging exchanges and validators to cut off Lazarus-linked wallets. But THORChain’s founder John-Paul Thorbjornsen says the protocol isn’t at fault, claiming no sanctioned wallets have interacted with it and blocking funds isn’t realistic.


The hacker remains with $514M ETH, and unless a change of circumstances occurs, they can continue sending money anonymously. This hack also points to an underlying issue—bad actors have the ability to take advantage of decentralized platforms since regulators are playing catch-up. Some fear that this will cause governments to squeeze the crypto tighter, especially privacy-focused platforms.

Crypto’s paying attention. Whatever happens next may reshape the landscape.

Also Read: Trade Anything, But Never Your Bitcoin – Michael Saylor

FBI Links North Korea to Record-Breaking $1.5 Billion ByBit Hack

Summary: The FBI blamed North Korea’s Lazarus Group for orchestrating the record $1.5 billion ByBit crypto exchange hack. The money was reportedly traded for Bitcoin and other cryptocurrency, with the potential that it will be laundered into fiat.

The FBI officially attributed the hacking of ByBit’s $1.5 billion cyber theft last month to North Korea’s Lazarus Group. In its official statement, the agency spelled out how pilfered assets were laundered through thousands of blockchain addresses by hackers, or “TraderTraitor.”.

YOU MIGHT ALSO LIKE: DOJ Cracks Down on $LIBRA Crypto Scam as Investors Suffer Huge Losses

ByBit CEO Ben Zhou confirmed on X that the attack targeted the exchange’s ether cold wallet, leaving all other wallets unaffected and withdrawals functioning as usual. Despite the massive breach, the platform’s total assets remain at $5.3 billion.

YOU MIGHT ALSO LIKE: Bitcoin Falls 4.9%, Dips Below $85K to Lowest Level Since November

Crypto entrepreneur Mario Nawfal called the ByBit hack the largest crypto heist in history. With North Korean cyber threats escalating, global authorities are intensifying efforts to combat digital asset theft.

Bybit Secures Provisional Crypto License from Dubai’s VARA

Once labelled as unregulated, Bybit: the second largest cryptocurrency exchange by derivatives trading, has just been pre-approved for licensing by Dubai’s Virtual Asset Regulatory Authority (VARA). This non-operational license implies that Bybit will be able to perform activities in Dubai and provide services to both retail and institutional clients – the next step towards the company’s globalization.

On its part, Bybit’s Chief Operating Officer, Helen Liu noted that factors such as the strategic location of Dubai, free-spirited regulation, and commitment towards the establishment of a hub for innovation make Dubai a fertile ground for the success of Bybit. “Today, there are immense possibilities in the sphere of cryptocurrency for business and investors and it would be sufficient to name only Dubai in this regard,” she continued.

Bybit relocated its headquarters to Dubai at the start of 2022 and earlier this year expanded its partnership with the DMCC from an ecosystem partner to an adviser. The exchange is sill in a process of chasing operating license to the full.

Taking into account, the trading volume of Bybit has ten times more than $15. , ending the day in the second place behind Binance, its derivatives totaled $8 billion on September 16, thus further cementing its position in the global cryptosphere.

Exit mobile version