Bybit Hacker Launders $106 Million in ETH Through Cross-Chain Exploits

According to recent analysis from EmberCN, the Bybit incident has revealed a significant breach involving a hacker exploiting the Chainflip, THORChain, LiFi, DLN, and eXch cross-chain exchange platforms. Since the onset of this laundering operation approximately 30 hours ago, the hacker has successfully transferred 37,900 ETH, equivalent to about 106 million USD, into alternative assets including Bitcoin. Currently, the hacker’s address still holds a substantial 461,491 ETH, valued at approximately 1.29 billion USD, while the total amount stolen from Bybit has reached 499,395 ETH or roughly 1.4 billion USD. This incident underscores the vulnerabilities in cross-chain protocols and highlights the urgent need for enhanced security measures within the crypto industry to mitigate the risks associated with such significant breaches.