Federal police are getting closer to a network of digital currency activities linked to one of the largest crypto carists in history. Investigators traced more than $ 35 million stolen Bitcoin Bitcoin linked to the piracy of Bybit in February 2025 – a feat of $ 1.4 billion that rocked the global cryptography market.
The digital path led agencies to exchangeAn exchange of crypto now accused of money laundering in the name of the notorious of North Korea Lazarus group. The FBI, as well as international cybercrime units, coordinates a transatlantic operation to investigate the exchange and recover stolen assets.
The exchange stops in the middle of the pressure
In a statement on April 17, Exch announced that it would cease operations on May 1, quoting what it called a hostile regulatory environment and intelligence operations targeting its leadership. The exchange admitted having dealt with part of the hacked funds, although it described the amount as “insignificant”.
“We have already resisted the pressure,” wrote Exch leadership, “but operating under the direct pressure of Graint (Signals Intelligence) is not durable.”
Security analysts claim that the exchange was probably under surveillance for weeks before the closure notice. Blockchain trackers have reported suspicious Bitcoin flows linked to the violation of Bybit, ultimately helping the authorities to retrace some of the funds stolen from exchange.
“This shows how transparent crypto has become,” said a blockchain investigator. “If you move dirty chain money, we will find it.”
Bybit Hack Fallout always takes place
Bybit’s hacking has sent shock waves through cryptographic space. The next day, users drew more than $ 5 billion from the platform, fearing new violations. While the competition provided customers that it could absorb losses, the company then closed parts of its web division and closed its NFT market.
On March 20, almost 89% of stolen assets had been tracedThanks in part to a $ 2 million bonuse program launched by Bybit. This effort rewarded the advice that helped freeze stolen tokens before they could be bleached through smaller exchanges or converted into Fiat.
Bybit has since recovered its pre-hack market share, returning to around 7% of the volume of global cryptography by April 10.
Related: the cost of crypto: how a calm city of finger lakes has become zero soil in a national energy battle
Fed softens the position on the surveillance of cryptography
While application efforts will intensify, there may be upcoming regulatory reductions. Speaking at the Economic Club in Chicago, president of the federal reserve Jerome Powell said regulators could adopt a more open approach to digital assets in the near future.
“We have adopted a conservative position, especially after the wave of chess and fraud,” said Powell. “But we are entering a new phase.”
Powell highlighted an increasing bipartite interest in regulating stableReporting that the congress could soon revisit a legal framework that stated during the past sessions. He declared that any new policy must balance innovation with risk controls, especially since the crypto becomes more linked to the traditional banking system.
“The climate change,” said Powell. “You see digital assets entering the dominant current.”
To learn more about how federal agencies attack digital fraud, read our report on new IRS scams targeting seniors.
Market move: whales change $ 130 million in BTC
Like the regulators and the police have progressed, the blockchain analysts spotted Two massive Bitcoin transfers in Coinbase April 17 – totaling more than $ 130 million. The transactions, which occurred a few minutes from each other, came from the same anonymous wallet.
Analysts suspect that the movements came from a single “whale” – an investor or a large -scale institution – perhaps preparing for a repositioning of the market. Such transfers often point out an imminent sale or liquidity is advancing on major news.
Despite volatility, Bitcoin continues to hover near the $ 85,000 Mark, showing unexpected resilience. But the traders remain divided: is the next movement up, or is a correction to come?
Final to take away
The crypto world faces a turning point – where the police, regulators and the main investors all reshape both industry. With the FBI in pursuit of billions of stolen fundsThe Fed opening the door to the reform of policies and whales which make daring movements, the pressure increases at all levels.
Stay with us for updates as the situation takes place.
Related reading
Do you want to know more about FL1? Discover these related subjects!
Stay informed. For the latest news and the titles of the National Desk FL1, subscribe using the Google Pop-Up prompt or Download the Fingerlakes1.com app!
