The use of blockchain privacy tools, decentralized exchanges, and cross-chain protocols, including THORChain, ExCH, and OKX Web3 Proxy, has made tracking and recovering the funds stolen from Bybit in February 2025 highly challenging.

Quotes that support claims

Zhou disclosed that 40,233 ETH—worth approximately $100 million—moved through OKX’s Web3 proxy. Of this amount, 16,680 ETH remains traceable, while 23,553 ETH ($65 million) requires additional information from OKX to track.

THORChain’s structure enables criminal activities under the guise of decentralization… its system operates in an isolated ecosystem that benefits insiders and facilitates money laundering.