Bybit CEO Discloses Recovery Status of $1.5 Billion Hack: 27.6% of Funds Remain Untraceable

Bybit CEO Ben Zhou has provided an update on the March 2025 hack, revealing that over a quarter of the stolen $1.5 billion in cryptocurrency remains untraceable after being laundered through mixers and cross-chain platforms. The majority of the stolen Ethereum was converted to Bitcoin via Thorchain.

Bybit CEO Reveals Details of $1.5 Billion Hack

Bybit CEO Ben Zhou has shared an update on the $1.5 billion hack that occurred in March, revealing that 27.6% of the stolen funds remain untraceable after moving through crypto mixers and cross-chain platforms. Approximately 68.6% of the funds are still traceable, while 3.84% have been frozen. The majority of the stolen assets, which totaled around 500,000 ETH, were converted to Bitcoin via Thorchain.

Bybit Hackers Swap $1.2 Billion in ETH to BTC

Bybit CEO Ben Zhou shared updates about the exchange’s $1.4 billion hack. Roughly 68.5% of the stolen funds, or $960 million, are still traceable. However, 27.5% of the assets, worth over $386 million, have gone dark. The hackers swapped $1.2 billion of the stolen ETH to BTC. The untraceable funds flowed into mixers, then through bridges to P2P and OTC platforms. Zhou believes North Korean hackers are behind the laundering.