The Bybit hackers, who stole a huge amount of ETH by exploiting a flaw in the multisig contract, are trying to swap the ETH for BTC as quickly as possible.

They know what’s valuable.

The question is:

Who in their right mind would trade BTC for stolen, traceable ETH?

And the most interesting part is that, since Bybit needs to buy ETH to reimburse its clients, the price is going up instead of dumping, as it normally would…

Wouldn’t be surprising if Bybit itself is buying back the ETH from the hackers with BTC—directly or indirectly, through savvy market makers.