ChainCatcher news, according to official sources, T3 FCU (T3 Financial Crime Unit) announced today that it has frozen $9 million in funds related to the Bybit hacker.Tether CEO Paolo Ardoino stated that Tether is committed to stopping the actions of criminals. By closely collaborating with T3 FCU, as well as other partners and global law enforcement agencies, it will ensure that stablecoin technology is not only transformative but also secure, transparent, and difficult to exploit.

ChainCatcher news, according to monitoring by The Data Nerd, 8 hours ago, a wallet possibly belonging to Bybit deposited 22,000 ETH (worth about 45.35 million USD) to Binance, which may be a repayment from Bybit to Binance after the hacking incident. Last week, the wallet also deposited another 22,000 ETH to Binance.

ChainCatcher news, according to Whale Alert monitoring, the Bybit exchange has seen four large ETH transfers in a short period, totaling 120,000 ETH (approximately $241 million) transferred to an unknown wallet, with each transaction amounting to 30,000 ETH.Previous news, 30,000 ETH was transferred from Bybit to an unknown wallet, valued at approximately $60.48 million.

ChainCatcher news, according to Whale Alert monitoring, approximately 30,000 ETH (worth about $60.475 million) was transferred from Bybit exchange to an unknown wallet at 16:39.

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.

ChainCatcher news, according to on-chain analyst The Data Nerd, an early investor/team member of Avalon deposited 3.5 million AVL tokens (approximately 1.58 million USD) to the Bybit exchange 7 hours ago.The wallet currently still holds 6 million AVL tokens (approximately 2.55 million USD).

ChainCatcher news, Bybit CEO Ben Zhou responded to the concerns regarding the Launchpool project OIK token dump: "The budget for OIK's launchpool activity was a total of 10 million tokens provided by the project party, of which 3.3 million have been distributed, with over 90,000 users participating in the activity. The launchpool is still ongoing and will conclude on March 19, with 5.7 million tokens yet to be distributed.Bybit has never sold off activity budgets for profit; such market manipulation has serious legal consequences, and the budget is all in hot wallets, which can be audited by any regulatory authority. Currently, it appears that there are indeed large holders selling OIK in the market, and the compliance department is investigating the specific details. In the future, we are considering allowing the community to have a more direct view of our budget situation by using independent wallets to receive project budgets, enabling the community to see everything transparently."It is reported that previously some community users raised concerns: "It is inferred that Bybit is using its own Launchpool as a cash machine. The TGE of SpaceNation, which has been built for a year, was a failure. However, over the past three days, the community has gone from outrage to resentment to questioning and investigation, and has collected some evidence. A community sold less than 5% of the project, yet the project party absorbed an abnormal circulation volume within 30 minutes of the opening."

ChainCatcher message, according to @ai_9684xtpa monitoring, the Grass team's associated address withdrew $6.27 million worth of GRASS from Bybit 11 hours ago.The tokens have now been transferred to the address HMy1Z...QxrzT, which previously received 10 million tokens distributed from the Grass team's multi-signature address before the TGE, and has been gradually deposited into the trading platform over the past 4 months.

ChainCatcher news, Bybit CEO Ben Zhou posted on the X platform that the large-scale liquidation of ETH by whales with 50x leverage on Hyperliquid essentially utilized the platform's liquidation engine to exit. CEX also faces the same challenges; when whales are liquidated, the CEX liquidation engine also takes over positions. Reducing the overall leverage ratio is one method and may be the most effective one, but doing so can harm the business, as users always want to achieve higher leverage. Additionally, while deploying tools like dynamic risk limit mechanisms can be considered—such as reducing the total leverage ratio based on the total position size as the position grows—this won't fundamentally solve the problem if users utilize multiple accounts.If DEXs wish to provide high leverage services in the long term and avoid situations similar to the 50x leverage whales utilizing the platform's liquidation engine to exit on Hyperliquid, they may need to attempt CEX-level risk management, such as market monitoring to identify abusers and market manipulators. It will be interesting to follow the developments of this matter, as it may drive innovation in liquidation mechanisms.

ChainCatcher message, Bybit CEO BEN responds to OKX Star: "We have not made any statements regarding this Bloomberg article; it should just be based on the facts shown by on-chain data. When we saw some funds flowing to OKX web3, we contacted the OKX web3 team and requested assistance in tracking the funds' whereabouts. Your team responded and provided us with the logic, allowing us to continue tracking most of the funds. What the hackers did was use multiple cross-chain bridges to convert ETH to BTC, with Thor being the largest cross-chain bridge they used. I hope this clarifies things."

ChainCatcher news, according to @ai_9684xtpa's monitoring, since the Bybit theft incident, the derivative hedging position of Ethena USDe on Bybit has decreased from 21% to 14%, with the share of ETH hedging positions dropping by 65%, the most significant decline.In the past 24 hours, Ethena associated addresses have withdrawn 22.64 million USDe from Bybit.

ChainCatcher news, Safe announced that its joint security investigation with Mandiant (now part of Google Cloud) has made significant progress and confirmed that the theft incident on Bybit on February 21 was perpetrated by the North Korean hacker group TraderTraitor, which has previously targeted the crypto industry multiple times.The attackers compromised the laptop of a Safe{Wallet} developer and hijacked an AWS session token to bypass multi-factor authentication controls. This developer is one of the few with higher privileges to perform their duties.Safe calls on the Web3 ecosystem to collectively address the increasingly complex security threats and to enhance the optimization of transaction verification tools to improve user security. The official team has released a detailed transaction verification guide and plans to further optimize the user experience to reduce potential risks.

ChainCatcher news, the DePIN project Roam has officially launched on nine exchanges: Bybit, Bitget, Gate.io, KuCoin, MEXC, Backpack, Hotcoin, LBank, and CoinEx, starting ROAM/USDT trading. BitMart will launch the ROAM/USDT trading pair at 19:00, and users can participate in trading shortly after.In addition, the ten exchanges are simultaneously launching airdrop activities totaling 6 million ROAM to encourage users to participate in trading.To incentivize users to engage in network building, Roam officials have introduced a community creation bounty of 100,000 ROAM, miner airdrops, and a 7-day check-in reward (up to 1400 Points). At the same time, on March 6 at 20:00 (UTC+8), the staking pool (with a maximum annual yield of 200% + 20-30% rewards) and the locked pool (with up to 50 GB of free eSIM data per month) will be launched simultaneously to support the long-term development of the ecosystem.

ChainCatcher news, according to on-chain analyst Ai Yi (@ai_9684xtpa), one of the market makers for the AI proxy token VIRTUAL, Amber Group, deposited 3.49 million tokens (approximately 3.04 million USD) to the Bybit exchange 12 hours ago.After the deposit, the price of VIRTUAL surged by 40.5% in a short time, rising from 0.871 USD to 1.2236 USD, and then continued to decline over the next 7 hours, with the current price at 0.8529 USD.

ChainCatcher news, according to Whale Alert monitoring, about 2 minutes ago, the Mirana Ventures marked address transferred approximately 649 BTC to Bybit, worth $57,251,799.

ChainCatcher news, according to Cointelegraph, the cryptocurrency exchange Bybit has confirmed that it has initiated a proposal requesting the decentralized finance (DeFi) protocol ParaSwap to return the transaction fees generated from trading with digital assets stolen from the exchange by the Lazarus hacker group.On March 4, a proposal was published on the ParaSwap decentralized autonomous organization (DAO) forum, requesting the freezing and return of 44.67 wETH worth nearly $100,000. The proposal initially raised skepticism, with several DAO members demanding verification of its origin. Bybit posted a verification message on its official X account on March 5, confirming that the proposal was initiated by them.This proposal for fund return sparked intense discussions among DAO members. DeFi researcher and ParaSwap DAO representative Ignas pointed out that profiting from a hacker attack gives a "bad image" to the DAO, and returning the funds would demonstrate support for industry peers. He added that retaining these funds could attract regulatory scrutiny and legal troubles. However, he also warned that refunds would set a dangerous precedent for DeFi: "Code is law. The DAO legally earned the fees through smart contracts. If we return the funds now, what happens in similar situations in the future? This would set a dangerous precedent."Opinions among ParaSwap DAO members are divided, with some supporting conditional refunds of the fees, while others voted against the refund. DAO member SEED Gov proposed three possible courses of action: full refund, rejection of the request, or negotiating a structured refund that includes retaining 10% as a bounty, consistent with Bybit's existing bug bounty program.

ChainCatcher news, according to Cointelegraph, the cross-chain asset exchange protocol THORChain has processed over $5.4 billion in transaction volume since Bybit suffered a $1.4 billion hack, generating approximately $5.5 million in revenue for the platform.According to data from the THORChain explorer, on the day following the hack of Bybit, THORChain processed over $1 billion in exchange transaction volume, generating more than $554,000 in total revenue that day alone.Despite achieving this revenue milestone, THORChain has faced scrutiny for its role in the illegal transfer of funds.

According to ChainCatcher's message, Bybit CEO Ben Zhou disclosed that the total amount of funds stolen by hackers is $1.4 billion (approximately 500,000 ETH), of which 77% is still traceable, 20% is untraceable, and 3% has been frozen.Specific analysis shows that 83% (417,348 ETH, approximately $1 billion) has been converted to Bitcoin, distributed across 6,954 wallets. The hackers primarily converted ETH to BTC through THORChain, accounting for about 72% (361,255 ETH). Additionally, 16% of the funds (79,655 ETH) were lost through the ExCH platform, and 8% of the funds (40,233 ETH) were transferred via OKX Web3 proxy, of which about 5% is untraceable.Currently, 11 parties have assisted in freezing the funds, with Mantle, Paraswap, and ZachXBT contributing the most, collectively paying out a bounty of 2.179 million USDT.

ChainCatcher message, Slow Mist Yu Xian stated, "Bybit was hacked for nearly $1.5 billion in ETH assets, apart from some being recovered, the rest has left Ethereum, with the vast majority entering the Bitcoin network, where complex coin laundering operations are taking place, and THORChain node operators have profited significantly."

ChainCatcher news, according to on-chain analyst Yu Jin (@EmberCN), hackers have completely laundered 499,000 ETH (approximately $1.39 billion) stolen from Bybit, with the entire process taking 10 days.During this period, the price of ETH dropped by 23%, from $2,780 to $2,130. The hackers primarily used THORChain for laundering operations, which consequently generated $5.9 billion in trading volume and $5.5 million in fee revenue.