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I wouldn't be surprised if Bybit cuts a deal with the hacker to return the funds. There's no way that $1.46 billion of marked ETH can be liquidated and off-ramped to fiat.



That’s well within the daily trading volume.


Well within real daily trading volume is less clear.

https://www.forbes.com/sites/javierpaz/2022/08/26/more-than-...


Exchanges will blacklist the addresses that hold the hacked ETH. They won't be able to deposit, or if they can deposit, the ETH will be frozen by the exchange.


I am sure there are still plenty of suckers who believe the whole "cryptocurrencies are fungible" narrative, and would get those ETHs with a discount.


It is on eth and they can use decentralized exchanges.


It's all traceable. Some of the ETH has already been run through a mixer and then bridged to BTC.

In any case, since this hack was performed by a nation state actor (Lazarus Group/North Korea), being caught is effectively meaningless.


Tornado cash and similar exist


So? Taint entire mixer output if any of the inputs is tainted. After a few instances, no one wpuld want to participate.

If someone complains, remind them that Tornado is illegal in US.




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