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20% of Stolen Bybit Funds ‘Gone Dark,’ Says CEO—Here’s How

  • Approximately $1.4 billion worth of cryptocurrency was stolen in a major hack on Bybit exchange.
  • Around 20% of the stolen funds have 'gone dark', while 77% remain traceable and 3% have been frozen.
  • Hackers converted stolen ETH tokens into Bitcoin, predominantly using the decentralized liquidity protocol THORChain.
  • Concerns are rising over the role of decentralized platforms in facilitating illicit transactions.

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