According to the initial analyzes carried out by the Blockchain analysis company NansenThe total amount of the attack against Bybit is equal to $ 1.44 billion.
The cryptocurrency sector has been shaken by a Unprecedented cyber attack against bybitOne of the world’s biggest exchanges.
Initial investigations have revealed the movement of stolen funds, which include:
- 401,347 ETH (~ $ 1.12 billion)
- 90.376 Steth (~ $ 253.16 million)
- 15,000 CMETH (~ $ 44.13 million)
- 8,000 methamphetamine (~ $ 23 million)
Fund analysis: attack analysis By bybit
After theft, the funds initially moved to a main wallet:
🔹 Main wallet: 0x47666FAB8BD0AC7003BCE3F5C3585383F09486E2
From this address, hackers quickly distributed funds to More than 40 secondary walletsusing different strategies to complicate monitoring.
Some of the key wallets used by the attackers:
- 0XA4B2FD68593B6F34E51CB9EDB6E71C1B4AB4AB4AB449E
- 0X36ED3C0213565530C35115D93A80F9C04D94E4CB
- 0X1542368A03AD1F03D96D51B414F4738961CF4443
Analysis compared to other attacks on encryption exchanges
Bybit’s hack adds to the list of significant attacks that have reached cryptographic exchanges over the years. Similar events have often had direct repercussions on the market and investor confidence.
- Mt. Gox Hack (February 2014): Bitcoin lost 50% of its value, falling from $ 600 to $ 300 in a few months.
- Bitfinex Hack (August 2016): Bitcoin experienced a temporary fall, but quickly recovered.
- Nicehash Hack (December 2017): It happened during the peak of the market, contributed to the subsequent bearish trend.
- Coincheck Hack (January 2018): He accelerated Bitcoin’s decrease at $ 3,000 by the end of the year.
- FTX Collapse (November 2022): It marked the lower part of the cryptographic market, with a recovery only in 2023.
Cryptocurrency conversion and distribution
One of the critical steps was the Conversion of stolen assets. The attackers made everyone Steth, CMETH and METH A ETH before distributing the funds in sections of $ 27 million In more than 10 different wallets.
Wallet used for conversion and distribution:
At the moment, Many of the funds are still carried out in several wallets.suggesting that attackers could be waiting for the right time to move them even more.
Impact on the cryptocurrency market
The hack had significant repercussions on marketswith greater volatility in the price of Ethereum and other cryptocurrencies.
- ETH experienced a sudden fall After 15:00 CET, with a loss of 4% in just 45 minutes Between 16:15 and 5:00 p.m. CET.
- Many cryptocurrencies have shown signs of a reboundBut prices remain lower compared to the levels prior to the attack.
- Greater uncertainty in the market As investors evaluate the long -term impact of theft.
How to protect your funds from computer pirates
With the increase in attacks in exchanges, it is crucial to adopt adequate security measures:
- Use non -custodial wallets Store long -term funds.
- Activate two factors authentication (2FA) In exchange accounts.
- Avoid maintaining large amounts of cryptocurrencies in exchanges.
- Monitor transactions and update security measures periodically.
An ongoing investigation
While Blockchain’s authorities and forensic companies continue to monitor the situation, the episode once again poses the problem of safety in cryptocurrency exchanges. The monitoring of funds and coordination with the authorities will be crucial when trying to recover some of the stolen amounts.
