Bybit CEO: 88.87% still traceable, decoding mixer transactions has become the biggest challenge currently faced

2025-03-20 16:17:49

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ChainCatcher news, Bybit co-founder Ben Zhou released the latest summary regarding the stolen funds. It is reported that out of a total of $1.4 billion (approximately 500,000 ETH) in stolen funds, 88.87% is still traceable, 7.59% has gone missing, and 3.54% is frozen.

The report shows that 86.29% of the stolen funds (approximately 440,000 ETH, worth $1.23 billion) have been converted into 12,836 BTC, distributed across 9,117 wallets, with an average of 1.41 BTC per wallet. The hackers have begun using BTC mixers such as Wasabi, CryptoMixer, Railgun, and TornadoCash to transfer funds, with 193 BTC primarily flowing to the Wasabi mixer, which were then dispersed to multiple P2P traders.

Ben Zhou stated that decoding mixer transactions has become the biggest challenge currently faced and called for more bounty hunters to participate in tracking and decoding efforts. In the past 30 days, the platform received 5,012 bounty reports, of which 63 were valid reports.

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