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#BYBIT HACKERS LAUNDERED 18% OF STOLEN ETH: DETAILS...
- Hackers behind the Bybit exchange breach have already laundered 89,500 ETH ($224M) in just 2.5 days, according to on-chain analyst #EmberCN
- This represents 18% of the total 499,000 ETH stolen. The attack is now one of the largest crypto heists in history, with evidence pointing to North Korea-linked cybercriminals.
HOW THE BYBIT HACK UNFOLDED
Initial Compromise via Social Engineering:
- Hackers phished Bybit’s cold wallet signers, tricking them into approving malicious transactions.
- This allowed attackers to replace Bybit’s multi-signature wallet implementation contract with a fraudulent one.
Unauthorized Transfers:
- The attackers intercepted a routine transfer from Bybit’s cold wallet to its hot wallet.
- They managed to reroute 401,000 ETH (~$1.5 billion at the time) to their own addresses.
Asset Dispersion via Intermediary Wallets:
- The stolen #ETH was moved through multiple wallets to obscure its origins.
- Blockchain analysts flagged suspicious transactions consolidating with funds from other North Korea-linked attacks.
Conversion and Laundering Tactics:
- The hackers used Thor Chain for cross-chain transactions. They converted stolen #ETH into #BTC and DAI using decentralized exchanges (DEXs) and no-KYC swap services.
Strategic Laundering & Dormant Funds:
- A large portion of the stolen funds remains idle across different addresses. - This is a common North Korean tactic—they wait for heightened scrutiny to subside before moving more assets.
According to crypto crime reports, North Korean hackers stole:
- $660.5M across 20 incidents in 2023.
- $1.34B across 47 attacks in 2024 (a 102.88% increase).
- The Bybit exploit alone exceeded North Korea’s total crypto theft for all of 2024.
- Authorities and blockchain analysts are tracking the remaining 410,000 ETH, which the hackers may launder in the next 15 days. Efforts to freeze or recover stolen funds are underway.
Images: Bybit X platform and created by BSCN using AI
$BTC
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- Hackers behind the Bybit exchange breach have already laundered 89,500 ETH ($224M) in just 2.5 days, according to on-chain analyst #EmberCN
- This represents 18% of the total 499,000 ETH stolen. The attack is now one of the largest crypto heists in history, with evidence pointing to North Korea-linked cybercriminals.
HOW THE BYBIT HACK UNFOLDED
Initial Compromise via Social Engineering:
- Hackers phished Bybit’s cold wallet signers, tricking them into approving malicious transactions.
- This allowed attackers to replace Bybit’s multi-signature wallet implementation contract with a fraudulent one.
Unauthorized Transfers:
- The attackers intercepted a routine transfer from Bybit’s cold wallet to its hot wallet.
- They managed to reroute 401,000 ETH (~$1.5 billion at the time) to their own addresses.
Asset Dispersion via Intermediary Wallets:
- The stolen #ETH was moved through multiple wallets to obscure its origins.
- Blockchain analysts flagged suspicious transactions consolidating with funds from other North Korea-linked attacks.
Conversion and Laundering Tactics:
- The hackers used Thor Chain for cross-chain transactions. They converted stolen #ETH into #BTC and DAI using decentralized exchanges (DEXs) and no-KYC swap services.
Strategic Laundering & Dormant Funds:
- A large portion of the stolen funds remains idle across different addresses. - This is a common North Korean tactic—they wait for heightened scrutiny to subside before moving more assets.
According to crypto crime reports, North Korean hackers stole:
- $660.5M across 20 incidents in 2023.
- $1.34B across 47 attacks in 2024 (a 102.88% increase).
- The Bybit exploit alone exceeded North Korea’s total crypto theft for all of 2024.
- Authorities and blockchain analysts are tracking the remaining 410,000 ETH, which the hackers may launder in the next 15 days. Efforts to freeze or recover stolen funds are underway.
Images: Bybit X platform and created by BSCN using AI
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#EmberCN
According to EmberCN's surveillance, the whale contract trader AguilaTrades, after experiencing several cases of floating profits turning into losses, has learned from this costly experience and has begun to take its profits. Currently, AguilaTrades is closing its positions on Hyperliquid, with a profit of approximately $11.4 million from long positions on BTC and ETH. AguilaTrades opened long positions on BTC and ETH the day before yesterday, and two hours later, the cryptocurrency market surged following the signing of a presidential decree by Trump. AguilaTrades took its profits and rolled over its positions when the market was profitable, and increased its position yesterday to reach a notional value of $250 million. After the strong rise of ETH today, AguilaTrades began to take its profits and close its positions.
$BTC
$ETH
According to EmberCN's surveillance, the whale contract trader AguilaTrades, after experiencing several cases of floating profits turning into losses, has learned from this costly experience and has begun to take its profits. Currently, AguilaTrades is closing its positions on Hyperliquid, with a profit of approximately $11.4 million from long positions on BTC and ETH. AguilaTrades opened long positions on BTC and ETH the day before yesterday, and two hours later, the cryptocurrency market surged following the signing of a presidential decree by Trump. AguilaTrades took its profits and rolled over its positions when the market was profitable, and increased its position yesterday to reach a notional value of $250 million. After the strong rise of ETH today, AguilaTrades began to take its profits and close its positions.
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⚡️Hackers #Lazarus , who hacked #Bybit laundered all 499 000 #ETH in 10 days
Analysts #EmberCN reported that the main withdrawal channel was the protocol #THORChain , which earned $5.5 million in fees.
$BTC $ETH $SOL
Analysts #EmberCN reported that the main withdrawal channel was the protocol #THORChain , which earned $5.5 million in fees.
$BTC $ETH $SOL
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