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Bitcoin Dominance Soars Higher – Adam Back Slams Bybit for Stolen Funds
In a recent tweet, cryptocurrency expert and Bitmain’s co-founder Adam Back has taken to Twitter to express his disapproval of the ongoing situation at Bybit, a popular digital asset trading platform. According to reports, Bybit was hacked, with millions of dollars in Ethereum (ETH) stolen from users.
Back, known for his sharp wit and candid views on the cryptocurrency space, has urged the community to take action against the hackers. He emphasized the importance of blocking the transactions that would allow the thieves to launder the stolen funds by converting them into Bitcoin (BTC).
In a statement, Bybit’s CEO Ben Zhou confirmed the hack, stating that the company is working diligently to recover the stolen assets. He also informed users that they are launching a bounty program to encourage the community to help trace and block any attempts to convert the stolen ETH into BTC.
It appears that Bybit has already identified several transactions attempting to move the stolen funds to a bridge service called Chainflip, which would allow them to be converted into Bitcoin. Back has urged the community to take immediate action in blocking these transactions, ensuring that the stolen funds are not laundered and used for malicious purposes.
The incident highlights the need for increased vigilance within the cryptocurrency space, as hackers continually find new ways to exploit vulnerabilities and move their ill-gotten gains around different chains.
Source: u.today
