Ethereum News: Large-Scale Thefts Highlight Concerns Over Crypto Mixers` Future

Recent high-profile thefts have cast a shadow over the future of crypto mixers, raising questions about their role in the cryptocurrency ecosystem.

Crypto Mixers Allegedly Used in Bybit and Infini Hacks, Future Uncertain

On Feb. 21, 2025, around $1.5 billion in ETH was stolen from the Bybit exchange, making it the largest heist of all time. Elliptic analytics suggest the funds were likely stolen by the Lazarus Group and sent to crypto mixers for laundering. The following day, thieves who stole crypto from Infini were also using a mixer service. This raises questions about the future of crypto mixers in pro-crypto countries.

Ethereum’s Big Breakout? Why Investors Are Betting on $10K

Ethereum nears a key historical support level, signaling a potential bottom. Strong technical patterns suggest a breakout toward $8,000–$10,000. Institutional accumulation is growing despite retail disinterest. Multiple high-timeframe indicators suggest Ethereum is nearing a local bottom, making it one of the best opportunities in the market with a strong risk-reward ratio.

Bybit’s $1.5B Heist Linked to Notorious Hacker Park Jin Hyok

On Feb. 21, Bybit, a prominent cryptocurrency exchange based in Dubai, fell victim to a massive cyberattack. Hackers infiltrated the company’s Ethereum (ETH) cold wallet, stealing approximately $1.5 billion in digital assets, making it the largest heist in crypto history. The breach was first identified by on-chain analyst ZachXBT, who noticed unusual withdrawals from Bybit’s accounts. The incident is linked to Park Jin Hyok, a hacker known for his involvement in high-profile cyber thefts.

Ethereum (ETH) Testing Key Support Amid Market Volatility

The cryptocurrency market faced a possible manipulative sell-off in the last 24 hours, leading to a 5% drop in total crypto market capitalization. Bitcoin (BTC) is down by over 3%, while Ethereum (ETH) has dropped over 8% to retest its support at $2,152 on the weekly chart. The price action is consolidating within a long-term symmetrical triangle pattern. Source: Coinmarketcap