49.9 million ETH stolen from Bybit has been completely laundered, taking a total of 10 days

2025-03-04 09:10:45

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ChainCatcher news, according to on-chain analyst Yu Jin (@EmberCN), hackers have completely laundered 499,000 ETH (approximately $1.39 billion) stolen from Bybit, with the entire process taking 10 days.

During this period, the price of ETH dropped by 23%, from $2,780 to $2,130. The hackers primarily used THORChain for laundering operations, which consequently generated $5.9 billion in trading volume and $5.5 million in fee revenue.

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Bybit ETH THORChain

Column Bybit theft incident tracking

On the evening of February 21, 2025, Bybit suffered a hacker attack, with over $1.4 billion worth of cryptocurrency assets stolen. How will the incident unfold, and what subsequent impacts will it bring?