77% of $1.4B in hacked ETH remains traceable, Bybit CEO says

Bybit CEO Ben Zhou stated on X that the recent hack resulted in the theft of 500,000 ETH ($1.4 billion) with 77% of the stolen funds currently traceable, 20% untraceable and 3% frozen. Zhou explained that 83% of the stolen funds, or 417,348 ETH ($1 billion), were swapped for Bitcoin through 6,954 addresses using THORChain, a decentralized cross-chain swap protocol. Meanwhile, 16% of the funds, or 79,655 ETH, were routed through the crypto transaction mixing platform eXch, rendering them untraceable. Additionally, 8% of the stolen funds were moved via the OKX Web3 platform, with a portion no longer trackable. Zhou noted that 11 organizations assisted in freezing the funds, receiving a combined reward of approximately 2.17 million USDT.