It was reported that some of the assets could be recovered through blockchain tracing. On February 21, Bybit announced that it had secured $1.4 billion in staked Ethereum.
The hack was the largest cryptocurrency hack in crypto history, involving Ethereum (ETH), Mantle Staking Ethereum (mETH), and other ERC-20 tokens.
According to a post by Lookonchain's X on the 4th, the hacker then used the 500,000 stolen ETH, or approximately $1.04 billion, in a decentralized cross.
It was revealed that the majority of the funds were moved through the chain protocol THORChain.
The Blockchain Group has been pointed to as the main culprit behind the attack by several blockchain analysis firms. However, blockchain security experts say that some of the funds were frozen and
Deddy Lavid, co-founder and CEO of Cyvers, said some of the laundered funds are still untraceable.
He said, "Money laundering through mixers and cross-chain swaps complicates recovery, but on-chain intelligence, AI models and exchanges can be used to recover the money."
"Cybersecurity firms leveraging their expertise and cooperation with regulators will have the opportunity to trace and freeze assets."
He also said, "If funds are hidden deep inside, it is important to act quickly, as it makes recovery much more difficult. Major thefts
Prevention often happens before or during a hack," he added.
Zhou confirmed that about 77% of the stolen funds could be traced, but that $280 million
It said more than $100,000 had disappeared and 3% had been frozen.
2025/03/05 16:24 KST
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