The crash is irreversible, and no one expected that under the full network's pursuit and blockade, the hacker's money laundering speed would be so fast! In just a few days, the Bybit hacker has laundered over 50% of the stolen ETH, converting such a huge amount of ETH into BTC, and then recklessly crashing it into dollars, which cannot be stopped at all. It turns out that the so-called blockchain security system is so fragile, and yet it still wants to innovate in traditional finance. With this behavior, it is better not to deceive traditional finance.
According to Spot On Chain monitoring, the Bybit hacker has laundered over 50% of the stolen ETH. In the past 6 days, 266,309 ETH have been successfully laundered, worth approximately 614 million dollars, accounting for 53.3% of the stolen ETH. Most of it was exchanged for BTC through THORChain, at a daily speed of 48,420 ETH. At this rate, the remaining ETH may be laundered in just 5 days.
Bad news just came in, the public wallet of Mask Network founder Suji Yan, who claims to use advanced encryption technology to encrypt messages and transactions, was stolen for over 4 million dollars, suspected to be due to a private key leak or offline attack. Ironically, the hacker chose to launch the attack on his birthday, the 29th.
For a time, the blockchain has become riddled with holes and especially unsafe, which may be the reason why the capital market is starting to crash and withdraw to observe.