Bybit Hacker Launders 270,000 ETH Through THORChain: A Deep Dive into the Scheme

According to a recent report by COINOTAG, the ongoing investigation into the Bybit hack has revealed that the perpetrator is strategically laundering funds via THORChain. Surveillance by LookIntoChain indicates that approximately 270,000 ETH, equating to roughly $6.05 billion, has been laundered. This substantial amount represents about 54% of the total stolen assets, highlighting the sophisticated methods being employed to obscure the illicit origins of these funds. Furthermore, it has been confirmed that the hacker retains a significant stash of 229,395 ETH, valued at around $5.14 billion. The developments underline critical vulnerabilities within cryptocurrency exchanges and underscore the need for enhanced security protocols to mitigate future risks.