The hacker of the Bybit exchange has laundered all 499,395 ETH ($1.39B) within the past 11 days post-hack, mostly via THORChain to convert ETH into BTC:

• Track the Bybit Exploiter entity here

Notably, during the laundering process:

• The ETH price has fallen by 23%, from $2,780 to $2,130 today.
• THORChain, the main channel used by hackers to launder money, earned $5.9B in transaction volume and $5.5M in handling fees.

Today, Bybit CEO Ben Zhou (@benbybit) disclosed that among the total amount of ETH stolen by hackers:

• 361,255 ETH ($0.9B), equivalent to 72% of the lost funds, was “smoothly” laundered through THORChain;
• 79,655 ETH ($198M), or 16%, was laundered through eXch. Since the exchange did not coordinate to update the information, these assets are still untraceable.
• 40,233 ETH ($100M), or 8%, was laundered through OKX Web3 Wallet and still needs information from OKX.

Fig 1. The hacker of the Bybit exchange finished laundering the 499K stolen ETH.

Fig 2. Bybit CEO Ben Zhou (@benbybit) disclosed statistics about the hack on his X (formerly Twitter) account.