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

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.