Bybit’s $1.4B Crypto Theft: Nearly Half of Stolen Funds Vanish from Public Tracking

Three months after one of the largest cryptocurrency thefts in history, blockchain data reveals that nearly half of the $1.4 billion stolen from Bybit has become untraceable. The stolen funds were systematically laundered through mixing services, with $644 million effectively disappearing from public view. Wasabi Wallet processed the largest portion—$247.5 million (approximately 966 BTC)—while eXch, a mixing service that allegedly shut down in April, also played a significant role. This development underscores the challenges of tracking and recovering stolen crypto assets, even as the industry continues to grow and evolve.

Nearly Half of Stolen $1.4B from Bybit Now Untraceable

Three months after one of the largest crypto thefts on record, blockchain data reveals that almost half of the $1.4 billion stolen from Bybit has disappeared from public tracking. The funds were systematically laundered through mixing services, with $644 million effectively going dark.

Wasabi Wallet processed the largest portion—$247.5 million, or roughly 966 BTC—while eXch, a mixing service that claimed to shut down in April, handled another $94.1 million. Authorities and exchanges have frozen just $63 million, leaving $693 million still traceable.

Pepe Coin Whale Moves Over $27M Amid Breakout Speculation

A significant transfer of 2 trillion Pepe tokens, valued at $27.8 million, from Bybit to an unknown wallet has sparked market speculation. The move coincides with the meme coin forming a bullish cup-and-handle pattern, suggesting a potential breakout toward $0.0000238.

Open interest in PEPE approaches $600 million as trading volume and funding rates climb across exchanges. Whale accumulation signals often precede volatility, and this transfer aligns with PEPE’s technical setup for a possible upward surge.