According to the latest data from COINOTAG News, an analysis by Alethea Warneke reveals that the ongoing Bybit hacking incident has resulted in the liquidations of approximately 50,700 ETH, valued around $142 million. The hacker has utilized these funds to acquire DAI and other on-chain instruments, including BTC. Notably, a significant portion remains in their wallet, with holdings of 448,600 ETH, equating to an estimated $1.26 billion. This development underscores the ongoing implications of crypto security vulnerabilities in the market.
Furthermore, an address suspected of being linked to Bybit, identified as 0x2E4…b77, has recently executed substantial transactions by procuring 157,600 ETH at approximately $441 million via reputable brokers such as Galaxy Digital, FalconX, and Wintermute. This swift accumulation and subsequent transfer of assets to Bybit not only highlights significant trading activities but also reflects the ever-evolving dynamics of liquidity management amid rising market uncertainties.