Ethereum News: FBI Seeks Crypto Industry Assistance to Trace $1.5 Billion Stolen in Bybit Hack

In a significant development in the world of cryptocurrency, the FBI has requested the help of the crypto industry to trace and block transactions related to a massive $1.5 billion hack of the Bybit exchange. Here’s a closer look at the situation and its implications for Ethereum.

FBI Seeks Crypto Industry Help to Track Bybit Hack Funds

The FBI has asked for the crypto industry’s help in tracking and blocking transactions intended to launder the $1.5 billion stolen from Bybit by North Korean hackers. The agency has referred to this particular North Korean cyber activity as "TraderTraitor" and has published a list of Ethereum addresses that are holding or have held assets from the theft. This information was released in a public service announcement on Wednesday.

Ethereum Whales Dump 440K ETH, But Signs Hint at Recovery

Whales have sold over 440,000 Ethereum in the past week, causing significant selling pressure and testing critical support levels. The price of Ethereum [ETH] dropped by 5.46% to $2,354.64. However, active addresses and rising transaction counts suggest that Ethereum may regain market momentum soon. Some investors believe Ethereum may find support at current levels despite the large-scale panic selling. Recent reports showed significant transactions, including one wallet selling 8,074 ETH at an average price of $2,431 and another transferring 10,000 ETH worth $23.44 million to Binance in just two days.

Ethereum Spot ETF Outflows Reach 30-Day High

As Ethereum’s price approaches its yearly low, investors have become increasingly bearish, leading to a surge in outflows from ETH spot ETFs. On February 26, net outflows from ETH spot ETFs climbed to a 30-day high of $94.27 million. Blackrock ETF ETHA had a single-day net outflow of $69.76 million, while Fidelity’s FETH saw a net outflow of $18.38 million that day.

Supra Announces SupraSTM for Parallel Execution of EVM

Supra, a fully vertically integrated Layer-1 blockchain, has announced a groundbreaking research paper introducing SupraSTM, a novel approach to parallel execution that significantly enhances Ethereum Virtual Machine (EVM) transaction processing. The paper outlines a breakthrough in blockchain execution that could enable Supra to process transactions up to 400% faster than existing sequential models.