A recent massive cryptocurrency heist from Bybit, resulting in the theft of 499,000 Ethereum (ETH), has left a trail of manipulation. The hacker, who struck four days after the initial theft, has been strategically splitting their illicit gains and using THORChain to transfer funds into Bitcoin (BTC), Dai (DAI), and other assets. This tactic leaves them with over 399,000 ETH, exceeding both The Ethereum Foundation’s holdings and Vitalik Buterin’s estimated holdings. Blockchain analytics firm Spot On Chain has tracked the hacker’s activities, revealing their efforts to disguise their illicit gains. 40,000 ETH loaned by Bitget to Bybit has been repaid in full. The incident highlights both the vulnerability of cryptocurrency exchanges and the complex nature of illicit financial activity.