Bitrass has predicted that OTC services may face a large -scale freeze wave after a large -scale bibet hack, resulting in a loss of more than $ 1.5 billion.
Betress, a combined crypto trace and analysis forum, Wags Users who can occur on a mass freeze horizon of over-the-counter or OTC products and services, after the Bibit hack after the North Korean hacker group, after being executed by the Lazarus group.
“In the next few months, OTC will be a mass freeze wave targeting groups and crypto payment companies,” said Bitres in a translated analysis article.
Bitrass called Baibit “the biggest single theft in the history of cryptocurrency”, as it crossed the previous hack in the deficit, such as a $ 611 million hack of the poly network in 2021 and Ronin Network in an exploitation in 2022. Loss of $ 620 million.
The analysis firm brings examples of previous exploits by the Lazarus Group, such as the Japanese Cryptocurrency Exchange Attack on DMM and Polonix Brech in 2023. The crypto affects the industry to a great extent.
During her investigation, Bitrass found that hackers have a tendency to use not only unlicensed platforms and mixers, so that they can rob their stolen funds. Hackers also use centralized platforms and OTC traders to process funds.
As a result, a large number of user accounts were deliberately or inadvertently stolen funds on major exchanges. These accounts were subject to risk control, leading to the commercial addresses of OTC traders and payment institutions, which were frozen by the major hack by Titu.
The attack on Bibit was discovered after the exchange Find out Unauthorized transfer from an atherium (ETH) cold wallet. Bibit then started an inquiry into the transfer, partnered with blockchain forensic experts to find out the stolen property.
As reported earlier by Crypto.news, byebit CEO Ben Zhou claimed that the exchange had successfully cured the damage from hack within two days. He also informed the traders that an audited plan-rid report would be published soon to show that the exchange has “completely shut down the ETH difference”.
