When stuff gets hacked, there’s a lot of focus, rightfully, on the exploit. How did it happen? Which smart contract had a vulnerability? How’s it get fixed?
The exploit, though, is just a small part of the story. By and large, attackers don’t want to degen with a massive bag of tokens. They want something more useful - no offense to the crypto heads.
That means they need to cash out. But you can’t just roll up to a centralized exchange and click a few buttons. They’ll ask too many questions, and will freeze your funds before they give you the cash.
So, what’s a hacker to do?
In this episode, we return to the ByBit hack, still the largest on the books. The attacker wants to exchange and move their crypto in a way that’s difficult for observers to trace. That’s not a simple task on a public ledger. So what do they reach for?Let’s find out.