Bybit Funds Recovery Progress: Remains Trackable at 88.87%

News John Kojo Kumi

Recap: Bybit's 88.87% traceability of fund recovery uncovers major laundering attempts.* Hackers dispersed ETH throughout 9,117 wallets.* BTC mixers complicate fund retrieval, requiring 5,012 bounty reports.

In a statement on March 20, 2025, Bybit co-founder Ben Zhou proclaimed that 88.87% of the $1.4 billion stolen remains traceable. This progress, up from 77%, signifies strides amid laundering attempts and technical hurdles.

Bybit Tracks 88.87% of Stolen Assets

Since the $1.4 billion hack happened, Bybit has faced immense challenges, with hackers converting 440,000 ETH into 12,836 BTC, scattered across 9,117 wallets. These actions show indications of advanced laundering schemes employing BTC mixers like Wasabi, CryptoMixer, Railgun, and TornadoCash.

The surge in retrievable funds has brought hope for recovery with 86.29% already swapped to approximately $1.23 billion in BTC. Ben Zhou indicated that the focus currently centers on unscrambling mixer transactions, a noteworthy challenge requiring additional bounty hunters for deciphering efforts.

"Decoding mixer transactions has become the main challenge currently, and we called on more bounty hunters to participate in tracking and decoding." – Ben Zhou, Co-Founder, Bybit

Keen market observers assess that the hackers moved 193 BTC primarily via Wasabi mixers, complicating asset retrieval, and emphasizing the significance of each legitimate bounty report.

Crypto Mixers and Recovery Efforts Overview

The recent increase to 88.87% traceability signifies a substantial leap from initial estimations of 77%, symbolizing advancements in blockchain forensic technology.

In terms of market fluctuations, Bitcoin shows a volatile trend, trading at $28,537. As crypto experts advise, there is an urgent demand for reinforced cybersecurity measures that align with evolving digital asset challenges. These measures aim to mitigate laundering risks and build novel technologies for tracking blockchain transactions, critical for industry resilience.

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John Kojo Kumi is a specialist in cryptocurrencies, focusing on emerging startups, tokenomics, market dynamics within the blockchain ecosystem, and decentralized finance (DeFi). His years in crypto journalism and blockchain research provide in-depth insights on DeFi, NFTs, and Web3 innovations.

He holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, offering a multidisciplinary perspective to the evolving digital asset space. As a Crypto News Writer, he delivers trending news updates. Simultaneously, his role as a Registrar at the Commission on Human Rights and Administrative Justice reflects his dedication to governance and transparency.

His areas of expertise include content strategy, SEO optimization, and technical research, allowing him to craft intellectually stimulating and data-driven analyses. Passionate about blockchain's revolutionary potential, John aims to equip readers with the knowledge to navigate the complexities of digital assets and decentralized technologies.

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Bybit Funds Recovery Progress: Remains Trackable at 88.87%