Wu Shuo learned that according to Eric Wall, co-founder of Taproot Wizards, the Bybit theft incident has been largely confirmed to be carried out by the North Korean hacker group Lazarus Group. According to Chainalysis' 2022 report, the organization typically follows a fixed pattern for disposing of stolen funds, and the entire process may take several years. The data for 2022 shows that the organization still holds $55 million in funds obtained from the 2016 attack, indicating that it is not in a hurry to quickly monetize. Regarding the disposal process of stolen funds: Step 1: Convert all ERC20 tokens (including liquidity derivatives such as stETH) into ETH; Step 2: Exchange all obtained ETH into BTC; Step 3: Gradually convert BTC into RMB through Asian exchanges; End use: It is reported that these funds will be used to support North Korea's nuclear weapons and ballistic missile programs. Analysis suggests that Bybit is currently supplementing its ETH shortfall of approximately $1.5 billion through borrowing, a strategy that may be based on the expectation of recovering stolen funds. However, given that it has been confirmed to be the work of Lazarus Group, the possibility of recovery is extremely low, and Bybit will have to purchase ETH to repay the loan. In the long run, Bybit's purchase of ETH and Lazarus Group's sale of ETH for BTC may offset each other, and the BTC obtained by Lazarus Group will gradually convert into selling pressure in the coming years. https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=38327