Ethereum Hack: $1.2B Stolen, 77% Traceable, Bybit Fights Back

Bybit's CEO has provided an update on the recent Ethereum (ETH) hack, which resulted in approximately $1.2 billion in stolen funds. According to the CEO, around 77% of the stolen funds are still traceable, while 20% remain untraceable and 3% have been frozen. The current price of ETH is $2,094.17.

The hack, which occurred on a major cryptocurrency exchange, has raised concerns about the security of digital assets. Bybit has been working closely with law enforcement and other industry players to track down the stolen funds and bring the perpetrators to justice. The company has also implemented additional security measures to prevent similar incidents in the future.

The Ethereum community has been closely monitoring the situation, with many expressing their support for Bybit's efforts to recover the stolen funds. Some have also called for increased regulation of the cryptocurrency industry to prevent such hacks from happening again.

The price of ETH has been volatile in the wake of the hack, but it has since stabilized and is currently trading at around $2,094.17. Analysts have noted that the hack has not had a significant impact on the overall cryptocurrency market, which continues to grow and attract new investors.

As the investigation into the hack continues, Bybit and other industry players are working to ensure the security of their platforms and the protection of their users' assets. The cryptocurrency industry is still in its early stages, and incidents like this serve as a reminder of the challenges that lie ahead in ensuring its long-term sustainability and growth.