If there are more thefts in the future, they can be recovered, but the meaning of decentralization will ultimately be lost.

North Korean hackers are trying to convert ETH into BTC, Bybit says it will launch a bounty program

Ben zhou @benbybit posted that hackers are transferring some of the stolen funds to Chainflip in an attempt to convert them into BTC. He called on the industry to stop this behavior.

He also mentioned that Bybit will launch a bounty program for those who provide help to recover the funds.

At present, the incident has been basically confirmed to be the work of North Korean hackers. The organization often takes a three-step approach to "disposal" of stolen money: first, convert it into ETH; second, convert it into BTC; third, gradually convert BTC into legal currency through Asian exchanges. The whole process may last for many years.

According to @SoSoValueCrypto detection, in the past 12 hours, a total of more than $4 billion in crypto assets have flowed into Bybit, including ETH, USDT, USDC, etc. These funds have covered the losses caused by hacker attacks.

Hackers are rampant, but the industry is not powerless! At present, many practitioners are helping Bybit to overcome difficulties and rebuild industry confidence. Come on!
#bybit被盗