Shiba Inu has recorded a notable surge in spot trading activity on several exchanges over the last seven days. This provides a bullish outlook for the second-largest meme coin by market cap, which has been one of the underperformers in this market cycle. Shiba Inu Sees Surge In Spot Trading Activity CoinGlass data show a 154% surge in Shiba Inu USD spot trading volume on Kraken over the last seven days. There has also been a significant surge on other major exchanges, such as Binance, Bybit, OKX, and Gemini, during the same period. This indicates that spot buyers may be stepping in to defend the SHIB price at a critical support amid the broader crypto market decline. Related Reading: Will A Shiba Inu ETF Follow After Dogecoin? The Lone SHIB Filing Standing Against The Crowd Notably, Shiba Inu is one of the altcoins that are in the green over the last week, suggesting that the bulls may be in control at the moment. CoinMarketCap data shows that the second-largest meme coin by market cap is up almost 7% during this period despite Bitcoin’s choppy price action. Meanwhile, further data from CoinGlass also shows that most leverage traders are currently betting on an increase in the Shiba Inu price, with the long/short ratio currently above 1. However, it is worth noting that derivatives volume is down by over 10% and open interest is down by almost 4%, which presents a bearish outlook for the meme coin. Another positive for Shiba Inu, besides the surge in spot trading volume, is that the Fed is likely to cut interest rates again at this week’s FOMC meeting. This could inject more liquidity into the crypto market, with altcoins like SHIB benefiting from it. Meanwhile, Bitcoin is currently looking to hold above the psychological $90,000 level, which could pave the way for higher prices for SHIB given their positive correlation. Community Gives Update On SHIB’s Progress In an X post, Shiba Inu community member Shibizens gave an update on SHIB’s progress over the last few days. The community member noted that over 45 billion SHIB have been moved off exchanges, indicating that holders are accumulating. Shibizens also alluded to a $35 million whale transfer into a private wallet, suggesting that SHIB whales are also bullish. Related Reading: Will The Shiba Inu Price Hit A New All-Time High In 2025? Machine Learning Algorithm Answers Furthermore, Coinbase is set to launch Shiba Inu futures on December 12 for institutional and retail investors, which could boost the meme coin’s adoption. Meanwhile, NYSE Arca has filed the 19b-4 for T. Rowe’s Shiba Inu ETF, bringing the ETF one step closer to launch. Shibuzens also highlighted upgrades on the Shibarium network, which could provide a major boost for SHIB. This includes the RPC upgrade, while a full privacy upgrade has been confirmed using encrypted tech. There are plans to roll this out by next year. At the time of writing, the Shiba Inu price is trading at around $0.000008498, up in the last 24 hours, according to data from CoinMarketCap. Featured image from Peakpx, chart from Tradingview.com
The DeFi lender's native token broke above key resistance level, eyeing $190 as the next target level.
Analysts note that the XRP price is showing unusual resilience, as a key metric previously seen before short-term rebounds reappears on its chart. In a new technical analysis, crypto market expert Dom points out that the latest market setup mirrors conditions that have led to at least a 10% surge each time this pattern emerges. Recurring Metric Signals 10% XRP Price Surge In an X post released while XRP was still trading around $2.19, Dom highlighted a familiar technical signal, noting that past appearances of a bid-skew metric on the chart have consistently led to sharp price recoveries. As a reflection of its previous stability, the analyst stated the XRP had displayed incredible strength over the last several days, trading above the $2 level. Related Reading: Analyst Claims XRP Price Will Surge To $220 Due To ETFs, But Is This Possible? Even as the Bitcoin price plummeted by more than $15,000 in the past few days, the analyst pointed out that XRP had maintained its local low from November 5. The accompanying chart highlights this divergence between XRP and BTC, where the altcoin’s structure holds its range despite the widespread market downturn. Historically, when XRP has shown such strength during periods of Bitcoin weakness, Dom notes that it has signaled countless price reversals. The analyst further highlighted that over the past three months, every time the recurring bid-skew pattern appeared, XRP followed with an upswing of at least 10%. If the historical metric holds, Dom’s analysis suggests there could be a continuation of XRP’s recent resilience, potentially driving its price up by 10% to at least $2.09. At the time of the analyst’s post, this target may have been higher, since XRP was still trading above $2. However, the cryptocurrency has since fallen below that threshold, reaching $1.9 at the time of writing. XRP CVD Data Reveals Controlled Selling Pressure In a subsequent update, Dom shared a second chart, showing that XRP’s price had declined from its previous level of $2.19 to $2.01. He highlighted that this negative price action serves as a reminder that market dynamics don’t always follow textbook patterns. The recent decline in XRP also falls into roughly 15% of cases where typical orderbook signals fail to predict short-term moves. Related Reading: Here’s How High The XRP Price Needs To Be To Flip Bitcoin In the Binance spot market, Dom points out evidence of “controlled” selling rather than forced liquidations. Unlike earlier periods where strong bids consistently led to upward price momentum, XRP’s Spot Cumulative Volume Delta (CVD) curves on Binance, Coinbase, Bybit, and other exchanges are sloping downwards. Moreover, among all the crypto exchanges, Binance has recorded the most decline. Dom notes that controlled selling can be seen clearly in the smoothed cumulative volume lines on the chart. He warns that these developments are tricky to time. Moreover, without a sudden climax or sharp liquidation, bottoming could form slowly, making entries based on traditional reversal signals more challenging. Featured image from Getty Images, chart from Tradingview.com
A Bybit spokesperson said the talks, reported by South Korea’s Maeil Business Newspaper, are “not within our knowledge.”
Dogecoin (DOGE) is facing a steep market cooldown after weeks of heightened trading activity in early October. Data from CoinGlass shows that both Open Interest (OI) and trading volume for DOGE futures have crashed, indicating a sharp decline in the meme coin’s momentum. The latest figures reveal a significant pullback in derivatives activity and spot market participation, suggesting that traders may be retreating from speculative positions as volatility eases. Dogecoin Open Interest Crashes Over 60% Dogecoin’s Open Interest has plunged dramatically from its October highs, reflecting a rapid exodus of leveraged traders from the market. According to CoinGlass, total exchange DOGE futures Open Interest has fallen over 62% from a peak of $5.03 billion on October 7 to $1.88 billion on October 28. This represents a drop to approximately 9.41 billion DOGE, valued at $ 0.20 per token. Related Reading: Dogecoin Treasury Company Looking To Use Strategy’s Bitcoin Playbook For DOGE, Here’s How Despite the decline in Open Interest, Binance, BitMEX, and Bybit continue to lead as the top exchanges with the highest Dogecoin futures activity. Still, the downturn has been widespread across exchanges. Kucoin recorded the largest drop in recent hours at 3.1%, followed closely by Bitget, which saw a 2.27% decline. Over the last 24 hours, Bitunix recorded the steepest drop in Open Interest, down 15.86%, while Crypto.com saw a 7.36% reduction. Even Binance, which consistently leads Dogecoin futures trading, has seen a notable pullback. CoinGlass reports that the exchange’s Open Interest peaked at $964.7 million on October 7, marking a monthly high. Since then, it has fallen to $380.29 million (1.9 billion DOGE), representing a staggering 60.6% crash in just over three weeks. Dogecoin Sees Even Worse Decline In Volume Trading volume for Dogecoin has mirrored the collapse in Open Interest. CoinGlass data shows that Dogecoin’s futures volume heatmap across major crypto exchanges is in the red zone. Total trading volume had spiked to $20.45 billion on October 11, following the devastating crypto flash crash on October 10, but has since plummeted to $5.31 billion as of October 28. This represents a whopping 74% decline. Related Reading: Dogecoin Price Macro Target Remains Above $2, And The Market Crash Hasn’t Changed It On individual exchanges, Binance’s DOGE trading volume dropped by 9.35% in the past 24 hours, while OKX saw a 13.69% decline. CoinEx recorded the largest volume decrease at 26.1%, followed by Gate.io at 23.94%. Popular exchanges like Bitget, Kucoin, and Bitunix also reported varying declines of 4.96%, 20.37% and 13.16%, respectively, as overall market liquidity thinned. However, a few exchanges bucked the downward trend, recording slight gains. dYdX saw its DOGE volume surge by 167.61%, HTX increased by 49.93%, and Hyperliquid rose by 23.88%. Bybit and MEXC also recorded modest gains of 24.98% and 1.88%, respectively. Alongside its decline in trading volume, CoinGlass notes that Dogecoin’s price performance has slipped. The meme coin is currently trading at $0.20, down 13.19% over the past 30 days and 2.86% in the last 24 hours. Featured image from iStock, chart from Tradingview.com
ByBit says it’s the first crypto exchange to get this nod from UAE’s Securities and Commodities Authority.
Mantle's native token has been one of the best performing cryptocurrencies recently, gaining 73% over the past month amid ecosystem expansion and an integration with Bybit.
As Bitcoin (BTC) continues to remain range-bound between $110,000 – $115,000, data from crypto exchanges seems divided toward the leading cryptocurrency. While Binance traders are exhibiting a bullish stance, traders from other exchanges are still showing a degree of hesitation. Binance Traders Expecting Bitcoin Price Surge According to a CryptoQuant Quicktake post by contributor Crazzyblockk, fresh derivatives data from Binance is signaling shifting market dynamics – specifically, the recent BTC funding rate on Binance points toward traders taking a bullish stance. Related Reading: Bitcoin Breaks Above Mid-Term Holder Breakeven – Is A Fresh Rally Brewing? On the contrary, the BTC funding rate from other exchanges, such as OKX, Bybit, and Deribit, suggests that traders on these platforms are still uncertain about taking any directional bet. As of September 23, the BTC perpetual funding rate on Binance climbed to +0.0084%, suggesting that the long positions are dominant and traders are willing to pay a premium to maintain their bullish bets. It is worth highlighting that the increase in funding rate is not an isolated event, as it suggests a positive seven-day change, indicating strengthening conviction among Binance traders. For comparison, the BTC funding rate on OKX is currently hovering at -0.0001%, while on Bybit it sits at 0.0015%. Finally, Deribit shows a funding rate of 0.0019%. The analyst added: This isn’t just a difference in numbers; it’s a difference in narrative. While funding rates on OKX and Bybit have actually decreased over the last seven days, Binance’s rate has climbed. For the uninitiated, funding rates can be viewed as a real-time gauge of trader sentiment in the perpetual swaps market. A strong positive rate like that of Binance, which diverges from the rest of the market, points toward aggressive bullish speculation. Is BTC About To Make A Move? In a separate CryptoQuant post, contributor XWIN Research Japan noted that Bitcoin’s implied volatility has dropped to its lowest level since 2023. Back then, the lull in the market was followed by an explosive rally of 325%, which propelled BTC from $29,000 to $124,000. Related Reading: Bitcoin Faces Bearish Pressure As Exchange Inflows Stay Elevated – Will BTC Lose $112,000 Support? The analyst added that the total Bitcoin exchange reserves continue to deplete at a rapid pace, hitting new multi-year lows. Historically, such a fall in BTC exchange reserves has preceded supply squeezes, leading to a dramatic rise in demand. That said, the overall sentiment toward BTC appears to be cold at present. The Bitcoin Fear & Greed Index suggests that investors are fearful of entering the market, which may offer a good opportunity to accumulate BTC at current market prices. However, fresh data from BTC wallets confirms that new wallets – those that are less than a month old – are starting to buy the top digital asset. At press time, BTC trades at $113,796, up 1% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
XRP Exchange reserves have surged by 1.2 billion in just a day, presenting a bearish outlook for the XRP price. This development comes as the token looks to hold above the psychological $3 level. XRP Exchange Reserves Increase By 1.2 Billion In Just A Day A CryptoQuant analysis by CryptoOnchain revealed that XRP Exchange reserves jumped by 1.2 billion in a day across four crypto exchanges, with Binance leading the surge. Bithumb, Bybit, and OKX also experienced a major increase in their reserves, a development which CryptoOnchain noted shifted the volume of XRP’s reserves in an unprecedented manner. Related Reading: Crypto Expert Shares How To Get To $1 Million With XRP Binance saw its reserve holdings increase from around 2.928 billion XRP to 3.538 billion XRP, an increase of over 610 million XRP in a single day. Meanwhile, Bithumb saw its holdings increase from 1.647 billion to 2.519 billion, Bybit’s holdings increased from 188 million to 380 million XRP, and OKX’s XRP reserves jumped from 112,000 to 233 million. This development is typically bearish, as an increase in crypto exchanges’ reserves indicates that investors are offloading their coins. This would also explain why XRP has underperformed in recent times and has struggled to hold above the psychological $3 price level. During this period, other altcoins like Solana and BNB have outperformed XRP, reaching new local highs. Accumulation Rather Than Sell-offs CryptoOnchain revealed that the increase in XRP Exchange reserves is a case of accumulation rather than the typical sell-offs. The analyst noted that the price chart indicates that this heavy accumulation occurred precisely at the key support level of around $2.73, a level that has previously prevented the altcoin from experiencing massive declines. Related Reading: XRP Price Setting Up For Next Leg With Expected Targets Reaching $19.27 The analyst then pointed to the RSI and MACD indicators a day after the increase in the XRP Exchange reserves, which shows a decrease in selling pressure on the token.CryptoOnchain explained that this could mean that the heavy buying by exchanges was aimed at accumulation rather than immediate injection into the market. CryptoOnchain also noted that the pattern of these large accumulations across the crypto exchanges and at a critical support level could be a sign of institutional coordination or an upcoming event. Notably, the XRP ETFs could launch next month, which would represent a significant development for the XRP price. The analyst stated that if the current support holds and buying volumes continue, the XRP price could rally to higher resistances at $3.34 and $3.58. However, CryptoOnchain warned that if the support is broken, selling pressure could turn the increase in XRP Exchange reserves into an opportunity for massive supply. At the time of writing, the XRP price is trading at around $3.06, up over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
The exchange had suspended most services in January 2025 due to operating without proper registration under anti-money laundering rules.
The exchange’s card lets users spend digital assets via Mastercard, Apple Pay, and Google Pay, with a 20% cashback incentive scheme this month.
European users of Austria-based Bybit EU can now borrow funds against their existing crypto holdings, using them as collateral to buy or sell more assets.
The Philippine Securities and Exchange Commission (SEC) has flagged ten prominent crypto exchanges, including OKX, Bybit, KuCoin, and Bitget, for operating in the country without the necessary approval. On Aug. 4, the SEC issued a public warning advising residents to avoid engaging with these unregistered platforms, which have not secured licenses to operate or solicit […]
The post Philippines SEC targets major crypto exchanges for operating without licences appeared first on CryptoSlate.
On-chain analytics platform Arkham Intelligence recently uncovered the biggest crypto hack ever. The hack involved stolen Bitcoin worth $3.5 billion at the time, now worth $14 billion, which is larger than the $1.5 billion Bybit hack this year. Arkham Intelligence Unveils $14 Billion Hack on Chinese Mining Pool LuBian In an X post, Arkham revealed that it had uncovered a $3.5 billion Bitcoin heist, the largest ever. This hack was on LuBian, which was a Chinese mining pool with facilities in China and Iran. The analytics platform stated that 127,426 BTC appears to have been stolen from LuBian in December 2020. These coins, which were worth $3.5 billion at the time, are now valued at $14.5 billion based on the current Bitcoin price. Related Reading: From Riches To Chains: Crypto King Arrested For Torturing Bitcoin Investor In Horror Scheme Furthermore, the platform noted that neither LuBian nor the hacker has publicly acknowledged the hack since it took place in 2020. At the time, the Chinese firm was one of the world’s largest mining pools, controlling almost 6% of the Bitcoin network’s total hash rate as of May 2020. Arkham revealed that the mining pool appears to have been first hacked on December 28, 2020, for over 90% of its BTC. The hacker subsequently stole around $6 million worth of BTC and USDT on December 29 from a LuBian address that was active on the Bitcoin Omni layer. On December 31, LuBian then rotated its remaining funds to recovery wallets. This hack trumps the Bybit hack of $1.5 billion, which occurred on February 21 earlier this year. Unlike the LuBian hack, which involved Bitcoin, hackers stole over 400,000 ETH from Bybit’s cold wallets through social engineering. As a result, the hackers were able to authorize these transfers despite the wallets being multisig. Attempts To Recover The Stolen Bitcoin Arkham also revealed that LuBian had made attempts to recover the stolen Bitcoin by contacting the hacker. The Chinese mining pool had sent OP_RETURN messages, in which it asked the hacker to return their funds. The analytics platform stated that the firm spent 1.4 BTC across 1516 different transactions to send these messages. Related Reading: Coinbase’s $400 Million Breach: What Really Happened And How Did Customers Get Exposed? Arkham claimed that the messages suggest that this was not a spoof from another hacker who had brute-forced the private keys. This appears to have been how LuBian was hacked in the first place, as the mining pool is said to have been using an algorithm to generate private keys that were susceptible to brute-force attacks. Arkham revealed that LuBian still holds 11,886 BTC, currently worth around $1.35 billion. Meanwhile, the hacker still holds the stolen Bitcoin, which they are known to have last consolidated in another wallet in July 2024. Thanks to Bitcoin’s surge over the years, the LuBian hacker is now the 13th largest BTC holder based on Arkham data, ahead of the Mt. Gox hacker. Featured image from Unsplash, chart from Tradingview.com
XRP Open Interest (OI) has surged to a new all-time high, surpassing $10 billion across major crypto exchanges. This jump in futures activity comes as the XRP price climbs toward $3.48, its highest level in years. Historically, rising Open Interest has often coincided with significant price rallies, suggesting the potential for further upside in XRP’s trajectory. XRP Open Interest Records New ATH Reports from Coinglass have revealed that the total Open Interest in XRP futures has climbed to a fresh ATH of $10.49 billion, reflecting a sharp increase in trading activity and capital inflows into the derivatives market. Notably, the Open Interest broke ATH targets after it exceeded the $9 billion mark, with trading activity continuing to accelerate, according to a recent X post by crypto analyst Captain Redbeard. Related Reading: XRP Open Interest Explodes To January ATH Levels, Will Price Follow Above $3? Coinglass chart data from July 18, 2025, shows that XRP is currently trading at approximately $3.5, marking a significant recovery from its prolonged consolidation period just above $2 in recent months. The spike in Open Interest is reportedly driven by some of the top crypto exchanges, with Bitget leading with $2.21 billion, followed by Binance at $1.83 billion, Gate at $1.69 billion, Bybit at $1.53 billion, and other platforms contributing to the overall increase. Binance, the dominant player in XRP futures, has seen its Open Interest vault from around $544.4 million on March 11, 2025, to nearly $2 billion in just four months. This reflects a broader trend where major exchanges, including Bitmex, Coinbase, OKX, and Hyperliquid, witness multiple hundred-million-dollar positions being opened by traders betting on XRP’s next move. The correlation between Open Interest and price action often serves as a crucial signal in the derivatives market. Usually, when OI climbs alongside price, it suggests strong bullish momentum backed by real capital. Conversely, a surge in OI without a corresponding price increase can raise concerns over potential leverage traps or looming liquidations. In the case of XRP, both Open Interest and price appear to be rising, indicating sustained market confidence and the possibility of an even stronger uptrend. XRP Eyes Three Bullish Targets In 2025 The XRP price is eyeing higher levels this bull cycle, as crypto analyst Armando Pantoja has forecasted three upside targets for the altcoin in 2025. Firstly, the analyst announced that XRP has officially entered price discovery territory after smashing through the long-standing resistance level of $2.98. Related Reading: Prepare For ATHs: ‘XRP Train Has Left The Station – Analyst This breakout now marks the possible start of another bull phase, with XRP expected to hit an immediate target of $4 soon. Pantoja’s Projections also extend to a bullish target of $6.37 and even $8.12 before the end of 2025. These targets are based on Fibonacci Extension levels and historical cycle patterns, indicating that XRP could still be in the early phases of a larger breakout. Featured image from Getty Images, chart from Tradingview.com
The Hellenic Anti-Money Laundering Authority issued a freezing order, locking the assets and preventing them from being transferred.
Assume any exchange that has some material amount of USDC has an agreement with Circle, said one person familiar with the situation.
Tokenization of equities is gaining steam, with several crypto exchanges moving towards offering on-chain stock trading on their platforms.
The first half of 2025 exposed deep vulnerabilities in the crypto industry, with hackers stealing over $2.1 billion across 75 separate incidents. This marks a 10% increase from the previous H1 record of $2 billion in 2022 and nearly matches the full-year figure for 2024, which closed at $2.2 billion, according to a report from […]
The post Crypto heists reach $2.1B so far in 2025 as state-backed hackers ramp up attacks appeared first on CryptoSlate.
OKX, Bybit, 1000x, and XT are among the exchanges that will be blocked in Thailand by the end of June.
Thailand's securities regulator announced that crypto exchanges Bybit, 1000X, CoinEx, OKX and XT will be banned locally starting June 28.
Crypto exchange Bybit has received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework from Austria’s Financial Market Authority (FMA), according to a statement issued on May 29. This license enables the platform to offer digital asset services across all 30 European Economic Area (EEA) countries. Bybit plans to make Austria the hub […]
The post Bybit earns MiCA license as hackers keep $644M from its $1.4B exploit out of reach appeared first on CryptoSlate.
Bybit has been granted a MiCA license in Austria, according to Austria regulator FMA’s website.
Bitcoin could climb higher before June wraps up, if today’s momentum holds. According to Shunyet Jan, Head of Derivatives at Bybit, the world’s second-largest crypto exchange, a move to $125,000 by the end of Q2 is on the table. That’s a jump of about 16% from current levels near $108,000. It’s a bold call, but Jan ties it to clear rules, steady fund flows and a sliding US dollar. Related Reading: Investors Pour $2.75 Billion Into Bitcoin ETFs As Price Skyrockets Bitcoin: Bold Price Forecast Jan set the $125,000 target in a market update on Thursday. He argues that if big players keep buying, Bitcoin can make that climb from roughly $108,100 today to $125,000 in five weeks. It’s a tight window. The weeks ahead will matter most as prices test new highs and traders look for clues on follow-through. Bybit’s Head of Derivatives Predicts Bitcoin Could Reach $125K by End of Q2 — WF (@WhaleFUD) May 24, 2025 Three Main Drivers Regulatory clarity tops Jan’s list. Based on reports, the new GENIUS Act gives stablecoins defined rules, which could help banks and funds feel safer about crypto. He also mentions spot Bitcoin ETFs. These funds have pulled in fresh capital, offering a straight path for institutions to own Bitcoin. Finally, Jan points to a weaker US dollar. When the dollar dips, Bitcoin often shines as an alternative store of value, his view goes. Altcoin Outlook Mixed While Bitcoin gets the green light, Jan warns that smaller tokens may struggle. He says high interest rates and global uncertainty might limit gains for Ethereum and other major altcoins. If money slows or risk appetite wanes, altcoins could lag behind Bitcoin’s rally. Traders aiming beyond BTC may need to pick their spots more carefully. Other Expert Predictions Jan’s view isn’t alone. Scott Melker, host of The Wolf of All Streets podcast, thinks Bitcoin could hit $250,000 by December 31, 2025. He notes BTC’s volatility has fallen from about three times that of the S&P to under two times. On another front, Adam Back of Blockstream sees an even steeper climb to between $500,000 and $1 million per coin this cycle. Michael Saylor, CEO of Strategy, adds that recent hiccups below $150,000 are tied to short-term holders exiting. He says longer-term investors are moving in through spot ETFs and corporate buys. Related Reading: Think Big? Multiply It By A Billion — XRP Tied To ‘Greatest’ Global Meeting: CEO What Comes Next Investors will be watching ETF flow reports and any shifts in US rate plans. A surprise hawkish move from the Federal Reserve or a fresh regulatory twist could sway prices just as much as demand. If Bitcoin breaks toward $125,000, it would mark a major milestone. But as always, timing matters nearly as much as price targets. Featured image from Gemini Imagen, chart from TradingView
Bybit will allow customers trade shares from 78 companies using the USDT stablecoin as a pair in a broader push into equities markets.
Kaiko said bitcoin market depth on Bybit rebounded to pre-hack levels following Lazarus Group's historic $1.5 billion attack.
In a staggering breach that rocked the crypto world, crypto exchange Bybit has reported significant developments following a major hack attributed to alleged North Korean hackers. The incident, part of a record-breaking $1.5 billion crypto heist, has seen hackers convert at least $300 million into unrecoverable funds. CEO Ben Zhou provided a detailed update on the situation through a post on social media platform X (formerly Twitter). Bybit CEO Details Movement Of Stolen Assets Zhou’s “4.21.25 Executive Summary on Hacked Funds” revealed that the total amount stolen amounts to approximately $1.4 billion, primarily comprising around 500,000 Ethereum (ETH). The breakdown of the hacked funds indicates that 68.57% remain traceable, suggesting that a significant portion of the stolen crypto can still be tracked through the blockchain. Conversely, 27.59% have gone dark, meaning these funds are no longer traceable and may be lost. Additionally, 3.84% of the funds have been frozen, potentially due to interventions from law enforcement or regulatory bodies. Related Reading: Analyst’s Bitcoin Price Prediction From March Plays Out, Here’s The Rest Of It The untraceable funds largely flowed into mixers—services that obscure the origin of cryptocurrencies—before being moved through bridges to peer-to-peer (P2P) and over-the-counter (OTC) platforms. One of the mixers identified in the laundering of the stolen funds is Wasabi, linked to the Democratic People’s Republic of Korea (DPRK). According to Zhou, after a specific amount of Bitcoin (BTC) was processed through Wasabi, it subsequently entered other mixing services such as CryptoMixer, Tornado Cash, and Railgun. The hackers reportedly utilized various cross-chain and swap services, including Thorchain, eXch, Lombard, LiFi, Stargate, and SunSwap, to facilitate the movement of assets. The ultimate destination for these funds appears to be OTC or P2P fiat currency exchange services, which allow for the conversion of cryptocurrencies into traditional currencies without the need for a centralized exchange. Stolen Crypto Breakdown The update also sheds light on the whereabouts of the stolen assets. A substantial portion of Ethereum has been transferred, with 432,748 ETH—approximately 84.45% of the total—valued at around $1.21 billion, converted from Ethereum to Bitcoin via Thorchain. Of this amount, 67.25% (342,975 ETH, valued at about $960.33 million) has been converted into 10,003 BTC, distributed across 35,772 wallets with an average of 0.28 BTC each. Related Reading: Dogecoin Stalls After 42 Days Of Flat Price Action — Is A Breakdown Coming? Meanwhile, 1.17% (5,991 ETH, approximately $16.77 million) remains on the Ethereum blockchain across 12,490 wallets, averaging 0.48 ETH each. In terms of Bitcoin, 944 BTC—about 6.34%, valued at $90.62 million—has been sent to the Wasabi Mixer, while 531 BTC (equivalent to 18,206 ETH, or 3.57%) has been transferred back from Bitcoin to Ethereum via Thorchain. In light of the ongoing investigation, Bybit has received 5,443 bounty reports related to the hack over the past 60 days, with 70 of those deemed valid. Zhou emphasized the need for more community involvement, inviting bounty hunters to help decode mixers and assist in tracing the remaining stolen funds. Featured image from DALL-E, chart from TradingView.com
The amount of stolen funds from the Bybit hack that have slipped out of reach continues to rise as the days go by. On April 21, Bybit CEO Ben Zhou revealed that around $400 million, around 27.6% of the $1.4 billion in stolen Ethereum, can no longer be traced. This represents a sharp increase from […]
The post Bybit seeks community help as $400 million in stolen Ethereum vanishes through Wasabi mixer appeared first on CryptoSlate.
The untraceable funds primarily flowed into mixers then through bridges to P2P and OTC platforms, Zhou said.
The sudden collapse of MANTRA’s OM token has sent shockwaves through the crypto market but drove its derivatives trading volume up by an eye-popping 7,000% in just 24 hours. Data from Coinglass reveals that trading activity surged to over $6 billion during this period, with Binance and Bybit accounting for more than half of the […]
The post Mantra’s OM token crash saw 7,000% surge in derivatives trading amid market chaos appeared first on CryptoSlate.