On March 1, the hackers moved one other 62,200 ETH, value roughly $138 million. This decreased the remaining unlaundered quantity to 156,500 ETH. Crypto investigator EmberCN, who has been monitoring the transfers, mentioned the fast tempo suggests the method will finish quickly.
Blockchain intelligence agency TRM Labs described the hackers’ strategies as extremely environment friendly. They use a mixture of middleman wallets, decentralized exchanges, and cross-chain bridges to cover the motion of funds. These strategies make it tougher for authorities to hint and get well the stolen crypto.
The FBI lately linked the attack to the North Korean hacking group TraderTraitor. In response, Bybit launched a $140 million bounty program to get well the funds. Up to now, $4.2 million has been awarded to 16 contributors.
In the meantime, Circle, the corporate behind the USDC stablecoin, is dealing with backlash for its gradual response. Crypto detective ZachXBT criticized Circle for taking up 24 hours to blacklist hacker wallets. He argued that the delay gave hackers sufficient time to maneuver the funds.
Circle’s CEO, Jeremy Allaire, defended the corporate, saying they solely act on official requests from authorities. Nonetheless, safety consultants argue that sooner motion might stop stolen funds from changing into untraceable.