CEO of Bybit, Ben Zhou and providence updates On the recovery of stolen funds during an important trick in the exchange. The incident, which occurred on February 21, involved approximately $ 1.4 billion in cryptocurrencies, which makes it one of the largest tricks into a centralized exchange in the cryptography market.
The attack, attributed to the Lázaro Group, resulted in the loss of 400,000 eth -related sheets and other assets. Zhou declared that about 20% of stolen funds have “gone dark”, while 77% remains traceable and 3% have been frozen.
Growing concerns about decentralized protocols
The CEO of Bybit, Zhou, emphasized that the next weeks are crucial to stop the efforts of computer pirates to retire through exchanges, free sales platforms and peer channels. He pointed out that Bybit’s stolen Eth -chips are quickly becoming Bitcoin and moves through multiple wallets.
Computer pirates predominantly used the Thorchain decentralized liquidity protocol, representing 72% of the conversion activity. This has contributed to record volumes records record in Thorchain, which reached more than $ 4.5 billion according to data Defillama.
The intensive use of Thorchain by the attackers has triggered internal debates on the role of decentralized platforms to facilitate illicit transactions. A key member of Thorchain, TCB, announced Its deviation from the protocol, citing concerns about the significant volume of stolen funds that are processed.
TCB commented that maintaining a totally decentralized system and without permission becomes challenging when it is strongly exploited to wash funds. A temporary vote has been proposed to stop Ethereum transactions in Thorchain, but a final decision has not been made.
In contrast, other cross chain platforms are taking more immediate measures. Chainflip, another decentralized exchange, temporarily arrested Its exchange services when detecting the activities of computer pirates.
The protocol also announced plans for new updates to prevent stolen funds from going through their system. These movements reflect continuous voltage between preserving the principles of decentralization and addressing the practical risks associated with allowing funds without restrictions.
Bybit challenges in recovery efforts
As mentioned above, Zhou revealed that the significant portions of the stolen ether have become impossible to track. For example, $ 79,655 ETH were processed through a non -KYC exchange called Exch, while another $ 100 million in ether flowed through the proxy OKX web3.
3.4.25 Executive summary on pirate funds:
Total pirated funds of USD 1.4bn around 500k ETH, 77% can still be tracked, 20% has darkened, 3% have been frozen.
Break down:
– 83% (417,348 eth, ~ $ 1b) have become BTC with 6,954 wallets (average of 1.71 BTC each). I’m …– Ben Zhou (@Benbybit) March 4, 2025
Of this amount, $ 65 million remain impossible to track additional updates from OKX Web3. Meanwhile, the FBI has also urged exchanges and validates to cut the access of the Lazarus group, citing the group’s participation in what it called the “largest money robbery in human history.”
Outstanding image created with Dall-E, TrainingView graphics
