⚠️ Ben Zhou, co-founder and CEO of Bybit, has released an executive summary detailing the status of hacked funds totaling approximately 1.4 billion, or around 500,000 ETH. According to Zhou, 68.57% of these funds remain traceable, while 27.59% have gone dark, and 3.84% have been frozen. The untraceable funds primarily flowed into mixers before being transferred through bridges to peer-to-peer (P2P) and over-the-counter (OTC) platforms. Notably, the mixer predominantly used by the Democratic People's Republic of Korea (DPRK) 🇰🇵 is identified as Wasabi, with a portion of the washed Bitcoin subsequently entering CryptoMixer, Tornado Cash, and Railgun. Zhou highlighted that 432,748 ETH (approximately 1.21 billion) has been converted to Bitcoin via Thorchain, with 67.25% of that amount transformed into 10,003 BTC across numerous wallets. Additionally, Zhou reported that 5,443 bounty reports have been received in the past 60 days, with 70 deemed valid, as the company seeks more bounty hunters to assist in decoding mixers and recovering the hacked funds. What do you think about the challenges of tracking and recovering hacked crypto funds?