Bybit hacker ranks 14th in Ethereum holdings...more than Ethereum founder

The hacker who hacked the cryptocurrency exchange Bybit and stole funds is now the 14th largest holder of Ethereum (ETH) in the world.
According to the industry, the Bybit hacker held 489,000 ETH (about $1.34 billion), ranking 14th in Ethereum holdings.
This amounts to 0.4% of the total Amu supply, which is more than the holdings of the Ethereum Foundation, Ethereum co-founder Vitalik Buterin, and asset manager Fidelity.
"The volume has essentially disappeared," said Vance Spencer, co-founder of Framework Ventures. "There are no retail outlets that can process that much volume.
"There are no over-the-counter (OTC) or exchanges," he said, adding that "we consider the amount of hacked Ethereum to be gone forever, and the price of Ethereum has actually increased slightly."
Meanwhile, it has been analyzed that the hackers who launched the hacking attack on Bybit are moving the stolen funds. Blockchain security firm Biosin has announced that it will launch a "Bybit Hacker" program on X.
"The hackers began moving the stolen funds again," the company said. "The hackers used Bitcoin Chain to move assets onto the Bitcoin network and then daisy-chained the assets on a decentralized exchange (DEX)."
"The DAI was then sent back to eXch, a cryptocurrency mixing platform," he added.
In relation to this, The Block, a blockchain media outlet, said, "Among experts, it is widely believed that Lazarus Group will be taking over from Bybit.
"It is being analyzed that the stolen funds are being deposited into eXch," he said. This is because, in order to launder the stolen funds, the assets are being moved to a mixing platform where it is difficult to trace the flow of funds.
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