Bybit Hacker Launders 71,000 ETH in Just 24 Hours Amid Ongoing 499,000 ETH Scheme

COINOTAG News reports on February 27th that on-chain analyst Wu Jinyu has revealed the persistent laundering activities of the Bybit hacker. Over the last 24 hours, the hacker has moved a staggering 71,000 ETH, equivalent to approximately 170 million USD, reiterating ongoing concerns in the cryptocurrency security landscape. From February 22nd to the present, a cumulative 499,000 ETH has been laundered, highlighting a troubling trend. The hacker has successfully concealed 206,000 ETH in just over four days, averaging around 45,000 ETH per day. Currently, the hacker’s wallet continues to hold an eye-watering 292,000 ETH, valued at around 685 million USD, raising questions about the effectiveness of existing anti-money laundering measures in the crypto market.