Mirana Ventures is a global early-stage investment fund that has strategic ties to Bybit and affiliate company BitDAO. Notably, Bybit's co-founders are also among Mirana Ventures' capital providers. Meanwhile, following the hack, Bybit has demonstrated impressive financial capabilities. Within 48 hours of the incident, the exchange secured 254,830 ETH. According to the latest blog, this was made possible through strategic partnerships with major crypto firms like Galaxy Digital, FalconX and Wintermute, along with support from Bitget, MEXC and DWF Labs. In fact, last week, Bybit CEO Ben Zhou publicly confirmed the successful restoration of its Ethereum reserves. The exchange has also fulfilled its financial commitments. According to data from Lookonchain data, Bybit has repaid Bitget's loan by transferring 40,000 ETH back to the platform. Bybit Hackers Move Stolen ETH As Bybit continues to recover the stolen funds, the hackers responsible for the breach are actively moving the stolen Ethereum. According to Arkham, the hackers have converted at least $6.2 million in stolen ETH to Bitcoin (BTC) using THORChain and swapping ETH for DAI on OKX's Web3 Swap. An on-chain analyst also revealed that the hackers have washed 45,900 ETH, worth around $113 million, in the past 24 hours. As a result, the total amount washed so far is 135,000 ETH, equivalent to around $335 million—nearly a third of the total stolen. A large portion of the stolen funds—363,900 ETH, worth around $900 million—remains in the hackers' wallets. At the current pace, the analyst estimates it could take an additional 8 to 10 days for the hackers to clean up the remaining funds. Bybit is not standing still. To counter this, Bybit has deployed a new API system to help track blacklisted wallets in real-time. Furthermore, the CEO has introduced a dedicated bounty website for tracking the money laundering activities of North Korea's Lazarus hacker group."Mirana Ventures appears to have purchased this ETH by selling $500 million in BTC and $100 million in USDT through FalconX, Galaxy Digital and Wintermute OTC," Arkham posted on X (formerly Twitter).
This new platform will allow bounty hunters to track stolen funds and receive rewards for successful freezes, further promoting transparency in the cryptocurrency industry. To further protect user assets, Bybit has also frozen $42.89 million in stolen assets. This was achieved through coordinated efforts with major crypto firms like Tether, CoinEX and OKX. Tether has frozen 181,000 USDT, CoinEX has secured 847,000 USDT, and OKX has frozen 2,783 ETH. Other partners, including FixedFloat, ChangeNow and Avalanche (AVAX), have also frozen additional assets."We have dedicated a team to maintain and update this website, and we will not stop until Lazarus or other bad actors in the industry are eliminated. In the future, we will expand it to other Lazarus victims," the post stated.
