Recent revelations have shed light on the actions taken by Bybit hackers following a major security breach. The attackers, who stole over 499,000 Ethereum (ETH) during a February 21st attack, have been actively laundering a significant portion of the stolen funds within the last two and a half days. On-chain data reveals that approximately $224 million worth of ETH – equivalent to 89,500 ETH – was laundered by the hackers during this period. This represents a staggering 18% of the total stolen sum. While the exchange is currently returning funds to Bitget in stages, their operations are back to normal and they claim to be close to 100% on ETH reserves. A detailed analysis of the laundering process and strategies employed by the hackers is ongoing, with experts tracking these movements closely. 89,500 ETH represents a significant portion of the stolen funds, and analysts suggest that the remaining funds are likely to be exchanged for other assets in the coming weeks. The Chainflip cross-chain bridge has announced plans to block illicit fund flows, aiming to prevent further exploitation of the hacked funds. Meanwhile, industry leaders like Arkham and Bybit’s CEO Ben Zhou continue to explore strategies to address this breach and ensure robust security protocols for exchanges in the future.