Türkçe
Español
A hacker allegedly connected to North Korea has emerged as one of the largest Ethereum 
$1,580 holders globally, amassing a total of 489,000 ETH valued at approximately $1.34 billion. This amount represents 0.4% of the total Ethereum supply, placing the hacker as the 14th largest Ethereum holder in the world. However, the hacker’s operational flexibility is severely limited due to transfer restrictions and blacklisting of these wallets.
Hacker’s Ethereum Assets and Monitoring Process
The wallets used by the hacker are under close surveillance by global cryptocurrency exchanges. Transactions from blacklisted addresses have become extremely challenging, effectively blocking user interactions with these wallets. Major decentralized finance (DeFi) platforms are also identifying these wallets and restricting access.
Market experts suggest that laundering or selling the hacker’s ETH holdings is highly difficult. However, decentralized swap platforms and other privacy-focused tools may enable some of these funds to be released into the market. Authorities and blockchain analysis firms continue to monitor potential movements of the funds in real-time.
Bybit Takes Steps to Address Losses
The substantial losses experienced by Bybit exchange have prompted the company to seek rapid solutions. They acknowledge that much of the funds held by the hacker are lost and unrecoverable. To compensate for these losses, Bybit has secured bridge loans from unnamed partners, expected to cover 80% of the total damages.
According to Vance Spencer, co-founder of Framework Ventures, the hacker’s ETH holdings create a significant supply shortage in the market. The company still requires 402,000 ETH, suggesting that future market purchases are inevitable, which could directly influence Ethereum prices.
In the last 24 hours, Ethereum prices saw notable increases. Starting at $2,614 overnight, ETH surged to $2,730. The rise in long positions in perpetual futures markets supports investor expectations for further price increases.
Cryptocurrency markets are closely monitoring the hacker’s wallets and Bybit’s ETH purchases. The impact of these factors on market dynamics will become clearer in the coming period. For investors, analyzing price movements and following market developments is crucial.
