Crypto Exchange Bybit Faces Record Hack with Traceable and Untraceable Funds
Tracing Stolen Funds from Bybit Hack
A recent incident involving the theft of funds from the crypto exchange Bybit has left over 77% of the stolen assets traceable. However, approximately 20% of the digital money has disappeared and cannot currently be followed, as reported by the CEO, Ben Zhou.
On a platform update shared early Tuesday, Zhou discussed the urgency of the situation, stating, "This and the coming week is critical for fund freezing as the funds will start to clear at exchanges, OTC, and P2P." These comments allude to ongoing efforts by the hackers to clean the money and transform it into cash.
As the story unfolds, it becomes increasingly essential to monitor the movement of these funds across various financial avenues to potentially recover the losses.
