Bybit’s Ben Zhou Provides Update on $1.4 Billion Hacked ETH/BTC Whereabouts

• $1.4B in hacked crypto laundered via mixers and cross-chain tools, says Ben Zhou  
• 68.57% of stolen funds remain traceable, while 27.59% have gone dark  
• Over 342K ETH converted to BTC and split across 35K+ wallets via Thorchain

Bybit CEO Ben Zhou has disclosed new findings showing that approximately $1.4 billion worth of hacked digital assets, nearly 500,000 ETH, moved through complex paths using mixers, cross-chain protocols, and decentralized exchanges.

4.21.25 Executive Summary on Hacked Funds:
Total hacked funds of USD 1.4bn around 500k ETH. 68.57% remain traceable, 27.59% have gone dark, 3.84% have been frozen. The untraceable funds primarily flowed into mixers then through bridges to P2P and OTC platforms.
Recently, we have…

— Ben Zhou (@benbybit) April 21, 2025

Shared April 21st, Zhou’s update highlights the growing difficulty in tracking illicit funds. An increasing share vanishes using fraud tools before conversion to fiat via P2P and OTC channels. His report details how these funds are transferred, fragmented, and obscured.

Related: Latest Bybit Hack Linked to N. Korea’s Crypto Theft for Weapons Funding

Over 68% of Funds Still Tracea…

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