Daily Report | 27.59% of the stolen funds from Bybit are untraceable; Vitalik proposes replacing EVM with RISC-V to enhance Ethereum scalability
April 21 News OverviewOrganizer: Jerry, ChainCatcher
Important News:
- He Yi: Not participating in any project investments, the only project involved is BNB
- Vitalik proposes to replace EVM with RISC-V to enhance Ethereum scalability
- ai16z founder: The native token of auto.fun is ai16z
- Synthetix founder updates on sUSD de-pegging issue: sUSD staking mechanism implemented
- Xie Jiayin: Some accounts have gradually completed transaction rollbacks and restored trading, deposit, and withdrawal functions
- 27.59% of stolen funds from Bybit are untraceable, 68.57% are still traceable
- Insiders: Circle and BitGo plan to apply for banking licenses soon
"What important events happened in the past 24 hours"
He Yi: Not participating in any project investments, the only project involved is BNB
The co-founder of Binance stated on social media that she does not participate in any project investments, communications, token listings, or endorsements, and the only project she is involved in is BNB. She reminded the public to be cautious of AI-generated fake voices and videos, emphasizing the need to independently verify information.
Vitalik proposes to replace EVM with RISC-V to enhance Ethereum scalability
According to The Block, Ethereum co-founder Vitalik Buterin proposed on April 20 at the Ethereum Magicians forum to replace the Ethereum Virtual Machine (EVM) with the open-source instruction set architecture RISC-V to improve execution layer efficiency.
Vitalik pointed out that this move could enhance zero-knowledge proof efficiency by up to 100 times while maintaining bi-directional compatibility with existing EVM contracts. The proposal aims to address Ethereum's long-term scalability bottlenecks in data availability, block production competitiveness, and ZK-EVM proofs.
ai16z founder: The native token of auto.fun is ai16z
ai16z founder Shaw stated on social media that the native token of auto.fun is ai16z.
Synthetix founder updates on sUSD de-pegging issue: sUSD staking mechanism implemented
Synthetix founder Kain released the latest update on the sUSD de-pegging issue: "The sUSD staking mechanism has been implemented, but this process still requires manual operation before the user interface goes live."
Xie Jiayin, the Chinese head of Bitget, tweeted that "the technical team is working hard to follow up on the affected accounts. Some accounts have gradually completed transaction rollbacks and restored trading, deposit, and withdrawal functions. If users face liquidation due to account restrictions today, we will take full responsibility. Users who actively traded and incurred losses on the VOXELUSDT contract between 16:00 and 16:30 on April 20 will receive appropriate compensation."
27.59% of stolen funds from Bybit are untraceable, 68.57% are still traceable
Bybit CEO Ben Zhou published the latest executive summary of the March 20 theft incident: the total amount of stolen funds reached $1.4 billion (approximately 500,000 ETH). Among them, 68.57% are still traceable, 27.59% are untraceable, and 3.84% have been frozen.
Analysis of fund flows:
The untraceable funds mainly flowed into mixers, and were later transferred to P2P and over-the-counter trading platforms via cross-chain bridges. Recent observations show that North Korean hacker groups (DPRK) mainly use Wasabi mixers, and after being washed through Wasabi, a small amount of BTC was transferred to CryptoMixer, Tornado Cash, and Railgun, and subsequently exchanged across chains through platforms such as Thorchain, eXch, Lombard, LiFi, Stargate, and SunSwap. Ultimately, they entered over-the-counter (OTC) or peer-to-peer (P2P) fiat exchange services.
Destination of ETH:
432,748 ETH (84.45%, approximately $1.21 billion) was transferred from Ethereum to BTC via Thorchain. Among them, 67.25% (342,975 ETH, approximately $960 million) was exchanged for 10,003 BTC, dispersed across 35,772 wallets (an average of 0.28 BTC per wallet); 1.17% (5,991 ETH, approximately $16.77 million) remains in 12,490 wallets on the Ethereum chain (an average of 0.48 ETH per wallet).
Destination of BTC:
944 BTC (6.34%, approximately $90.62 million) entered the Wasabi mixer; 531 BTC (equivalent to 18,206 ETH, 3.57%) was transferred back to Ethereum from the BTC chain via Thorchain.
In the past 60 days, 5,443 reports have been received, of which 70 are valid, calling for more bounty hunters who can crack mixers to join.
Insiders: Circle and BitGo plan to apply for banking licenses soon
According to Jin10, insiders say that Circle and BitGo plan to apply for banking licenses soon. Coinbase Global and Paxos are also considering similar moves.
"What are the must-read articles in the past 24 hours"
Shearing sheep backfires? An article reveals the storm surrounding Bitget VOXEL contracts
In just a few hours, from a surge in trading volume to skyrocketing funding rates, followed by risk control restrictions and transaction rollbacks, the entire event is filled with controversy and countless questions.
Financial freedom and new feudalism
You need to work hard to accumulate wealth and build your own little empire.
Vitalik's long-term L1 execution layer proposal in full: Replace EVM with RISC-V
The goal is to significantly enhance execution layer efficiency and simplicity, as well as to break through scalability bottlenecks.
Bitcoin seems to be poised for another upward move, and if the traditional market does not deteriorate further, it may reach new peaks in the third or early fourth quarter.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of April 21, 19:50:
The top five popular Ethereum tokens in the past 24 hours are: AST, DOGES, TPUT, XORIGINALS, MIRO
The top five popular Solana tokens in the past 24 hours are: SHEIKH, GMICHI, IUG, KAIREN, BRRR
The top five popular Base tokens in the past 24 hours are: VIRTUAL, USDT, EURC, TOSHI, BRETT
