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Ben Zhou, the CEO of cryptocurrency exchange Bybit, has revealed that 77% of the funds stolen in a record-breaking hack are still traceable.
What Happened: According to a post on X by Zhou today, the upcoming week is critical for securing the funds, as they will begin clearing through exchanges, OTC, and P2P channels. The hackers stole 417,348 Ether (CRYPTO: ETH), worth nearly $1 billion, which remains traceable on the blockchain despite being transferred through the privacy-focused THORChain, a decentralized platform built for exchanging assets across multiple blockchains.
Nevertheless, 20% of the funds—approximately 79,655 ETH or $200 million—have become untraceable through ExCH. Zhou also stated that 3% of the hacked funds have been …
