The criminal entity that stole $1.4 billion worth of Ethereum (CRYPTO: ETH) from cryptocurrency exchange Bybit has laundered roughly 30% of the hacked funds.
What happened: The hacker has washed about 145,065 ETH, worth $360.92 million, in five days since the hack, according to data from Spot On Chain.
The hacker has been splitting the funds into smaller amounts across multiple addresses and using the liquidity protocol THORChain (CRYPTO: RUNE) for cross-chain swaps into Bitcoin (CRYPTO: BTC) and other assets.
With over 354,330 ETH still in their possession, the scammer holds more ETH than Vitalik Buterin, the blockchain’s creator, and the …
Full story available on Benzinga.com