Daily | 27.59% of Bybit's stolen funds are untraceable; Vitalik proposes to replace the EVM with RISC-V to improve Ethereum's scalability

The Binance co-founder said in a statement on social media that she is not involved in any project investment, communication, token listing or endorsement matters, and that the only project she is involved in is BNB. She warned the public to be wary of AI falsification of voice and video, stressing the need to independently verify information.

Vitalik proposes to replace the EVM with RISC-V to improve Ethereum's scalability

According to The Block, Ethereum co-founder Vitalik Buterin proposed on April 20 at the Ethereum Magicians Forum to replace the Ethereum Virtual Machine (EVM) with RISC-V, an open-source instruction set architecture, to improve the efficiency of the execution layer.

According to Vitalik, this could improve the efficiency of zero-knowledge proofs by up to 100 times, while maintaining bi-directional compatibility with existing EVM contracts. The proposal aims to address Ethereum's long-term scaling bottlenecks in terms of data availability, block production competitiveness, and ZK-EVM proofs.

ai16z founder: auto.fun's native token is ai16z

ai16z founder Shaw said on social platforms that auto.fun's native token is ai16z.

Synthetix Founder Provides Update on sUSD De-Anchoring Progress: sUSD Staking Implemented

Synthetix Founder Kain released an update on the sUSD de-pegging issue: "The sUSD staking mechanism has been implemented, but the process will still be manual until the user interface goes live.

Xie Jiayin: Some accounts have successively completed the rollback of transactions and resumed transactions, deposits and withdrawals and other functions

Xie Jiayin, the head of Chinese at Bitget, tweeted, "The technical team is stepping up to follow up with the affected accounts this time. Some accounts have successively completed transaction rollbacks and resumed transactions, deposits and withdrawals. If the user liquidates the account because the account is restricted today, he will be fully responsible for it. During the period from 16:00 to 16:30 on April 20, users who actively participated in trading and lost money on VOXELUSDT futures positions will be compensated accordingly.

27.59% of Bybit's stolen funds are untraceable and 68.57% are still traceable

Bybit's CEO Ben Zhou released an executive summary of the March 20 stolen funds: $1.4 billion (about 500,000 ETH) were stolen. Of these, 68.57% are still traceable, 27.59% are untraceable, and 3.84% are frozen.

Fund flow analysis:

Untraceable funds mainly flow to coin mixers, and then transfer to P2P and OTC trading platforms through cross-chain bridges. Recent observations have shown that the North Korean hacking group (DPRK) mainly uses the Wasabi mixer, and after the Wasabi cleansing, a small amount of BTC is transferred to CryptoMixer, Tornado Cash, and Railgun, and then cross-chain swaps are carried out through platforms such as Thorchain, eXch, Lombard, LiFi, Stargate, and SunSwap. Eventually, it will enter an over-the-counter (OTC) or peer-to-peer (P2P) fiat currency exchange service.

Where ETH went:

432,748 ETH (84.45%, about $1.21 billion) was transferred from Ethereum to BTC via Thorchain. 67.25% (342,975 ETH, about $960 million) was converted into 10,003 BTC, which was dispersed across 35,772 wallets (an average of 0.28 BTC per wallet); 1.17% (5,991 ETH, about $16.77 million) remains in 12,490 wallets on the Ethereum chain (an average of 0.48 ETH per wallet).

Where BTC went:

944 BTC (6.34%, about $90.62 million) went to the Wasabi mixer; 531 BTC (18,206 ETH equivalent, 3.57%) were transferred from BTC chain back to Ethereum via Thorchain.

5,443 reports have been received in the last 60 days, 70 of which are valid, calling for more bounty hunters who can hack the coin mixer to join.

Sources: Circle, BitGo plan to apply for banking licenses in the near future

According to a report by Golden Ten, a source said that Circle, BitGo plans to apply for a banking license in the near future. Coinbase Global and Paxos are considering similar moves.