Renowned on-chain crypto transactions tracker, Spotonchain, has released a new update on the Bybit hacker’s laundering exploit. According to the on-chain transaction tracker, the cyber thief has already moved over 50% of the stolen Ethereum tokens within one week.
Going further, the crypto transaction tracker noted that the past 5.5 days saw the Bybit hacker convert 266,309 ETH worth $614 million for Bitcoin. The swapped token represents 53.3% of the stolen 499K Ethereum tokens. As usual, Spotonchain added that the stolen tokens were mostly laundered via THORChain at the rate of 48,420 ETH per day.
Having laundered 266,309 Ethereum tokens, the on-chain tracker mentioned that the malicious actor is still holding 233,086 ETH. Spotonchain also noted that if the hacker maintain the consistent laundering spree, he might need only 5 days to clear the remaining tokens.
Bybit Hacker Intensifies Laundering Actions
Before the latest update, the crypto transaction tracker had reported that the Bybit hacker moved 100,000 ETH worth $250 million on February 25. Per Spotonchain, the cyber thief moved the 100K tokens, representing 20% of the stolen tokens within 4 days.
Three days later, the on-chain tracker reported that the laundered tokens increased to about 266,309 ETH. This implies that the scammer moved 166,399 Ethereum tokens in about three days, underscoring more consistent efforts at laundering the entire stolen Ethereum coins. Should the hacker continue intensifying the tokens transfers, he might mover everything in less than the estimated 5.5 days.
