Bybit CEO： 88.87% can still be traced, and decoding coin mixer transactions has become the biggest challenge currently faced

Bybit co-founder Ben Zhou has released the latest summary on stolen funds. It is reported that out of a total of $1.4 billion (approximately 500000 ETH) of stolen funds, 88.87% can still be traced, 7.59% have disappeared, and 3.54% have been frozen. The report shows that 86.29% of stolen funds (approximately 440000 ETH, worth $1.23 billion) have been converted into 12836 BTC, distributed across 9117 wallets, with an average of 1.41 BTC held per wallet. Hackers began using BTC mixers such as Wasabi, CryptoMixer, Railgun, and TornadoCash to transfer funds, with 193 BTC mainly flowing into the Wasabi mixer before being dispersed to multiple P2P traders. Ben Zhou stated that decoding coin mixer transactions has become the biggest challenge currently faced, and called for more bounty hunters to participate in tracking and decoding work. In the past 30 days, the platform has received 5012 bounty reports, of which 63 are valid reports. Earlier news, Bybit CEO： 77% of the stolen funds can still be traced, 20% are untraceable, and 3% have been frozen.