Greater than $868 million value of crypto stolen within the Bybit hack has disappeared, in keeping with knowledge from the trade’s Lazarus Bounty web site.
Bybit’s Lazarus Bounty web site, which tracks funds stolen within the $1.5 billion hack, now reveals that over 60% has gone darkish, with solely 5% frozen.
The web site signifies that roughly 62% of the stolen funds — roughly $868 million — are now not traceable, with solely 5% frozen and almost 33% nonetheless traceable. To this point, Bybit has paid out over $2.3 million in bounties to 13 “bounty hunters.”
Launched in February, the Lazarus Bounty web site was created by Bybit to trace the stolen funds and supply rewards for assist in recovering them. The trade promised a ten% bounty for any frozen quantity, cut up between the one that traced the funds and the get together that froze them.
To this point, Mantle, an Ethereum Layer 2 community, has helped probably the most by freezing roughly $42 million of the stolen funds. Nonetheless, cooperation wasn’t common: crypto mixing protocol eXch refused to lock down any belongings and is claimed to have laundered almost $95 million.
Nonetheless, as eXch discovered itself in scorching water, it quietly shut down its public websites in late April and formally ceased operations in early Could.
But, it stored its API open to pick companions and has continued to combine — and thus launder — each the Bybit hack proceeds and different illicit funds.
Bybit didn’t reply to The Defiant’s request for remark.
