Hacker Launders Bybit Stolen ETH via DEXs, Converts to DAI and UNI

The Bybit hacker is currently using multiple decentralized exchanges (DEXs) to sell ETH and convert it to DAI, according to recent reports. This move suggests that the hacker is attempting to launder the stolen funds by converting them into a stablecoin, which can be used to purchase other assets or withdrawn from exchanges.

In related news, an entity has been actively selling UNI, transferring $26.6 million worth of UNI to Binance over the past four days. This large-scale transaction could be another attempt by the hacker to convert stolen funds into a more liquid asset. Meanwhile, Tron's on-chain stablecoin has minted over 820 million new coins in the past seven days, indicating a significant increase in the stablecoin's supply.

An entity also deposited $10.21 million worth of BAN into Gate.io within the past hour, resulting in an unrealized loss of $3.15 million. This transaction could be another attempt by the hacker to move stolen funds through different exchanges and assets to avoid detection.

The use of multiple DEXs and the conversion of ETH to DAI suggests that the hacker is employing sophisticated techniques to launder the stolen funds. As the investigation into the Bybit hack continues, it is crucial for exchanges and law enforcement agencies to work together to track and recover the stolen funds.