Crypto Exchange Bybit Hacked: $32M in ETH Laundered, $486M Remaining

Bybit, a popular cryptocurrency exchange, has been the target of a significant hack, with the hacker suspending ETH transfers and laundering activities since yesterday at 3:00 PM. According to on-chain data analyst Wu Jinyan, the hacker has laundered approximately 14,300 ETH (around $32.2 million) in the past 24 hours. Despite the pause in activities, there are still around 218,000 ETH (approximately $486 million) remaining in the hacker's address.

The hacker's sudden pause in activities has raised questions and speculations among the crypto community. Some experts suggest that the hacker might be reassessing their strategy or waiting for the heat to die down before resuming their operations. Others believe that the hacker could be facing technical challenges or legal pressures that have forced them to temporarily halt their activities.

The Bybit hack has sent shockwaves through the crypto market, with investors and exchanges alike on high alert. The incident has also highlighted the importance of security measures in the crypto industry, with many exchanges scrambling to beef up their defenses against potential attacks. As the investigation into the hack continues, the crypto community awaits further developments with bated breath.