• Roughly 77% of the $1.4 billion stolen codes from BYBit are nonetheless traceable.
• The hackers poured $900 million by means of Torcaine, however $172 million stays untraceable.
• Bybit and its companions paid $2.18 million in USDT in bounty to those that helped with the investigation

Bibit CEO Ben Zhou revealed that $1.4 billion in stolen cryptocurrency is being tracked and 77% of the funds can then be recovered.

Zhou mentioned the following two weeks shall be vital as hackers will attempt to transfer funds to numerous channels, together with centralized exchanges, industrial (OTC) desks, and peer-to-peer (P2P) platforms.

Zhou shared an government abstract of X’s hack. He mentioned investigators are working intently with exchanges and blockchain analytics firms. The aim is to intercept laundry makes an attempt earlier than the funds are withdrawn or reworked into traceable property.

Bitcoin conversion was a significant tactic for hackers

In response to Zhou, 83% of the stolen property (equal to 417,348 ETH or about $1 billion) have been transformed to Bitcoin. This conversion is completed by means of 6,954 wallets, every holding a median of 1.71 BTC.

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