The stealing was made easy by the eXch platform. Am exchange platform believed to help in money laundering.
The coin was laundered on several exchanges and not just only exch. OKX DEX and ParaSwap were among and more. Why the regulators do not seize the money from the other two exchanges? Why only exch?
All of them have helped in money laundering if exch is accused. All of them do not require KYC also. Bybit also has DEX called WEB3 on the exchange which does not require KYC.
Yes, all the 3 exchange platform helped the Bybit hacker to laundery the stolen cryptocurrency but both OK Dex and ParaSwap was not shutdown because they decentralized platform, and also show some level of cooperation when they were called out. Besides, it lead to a dispute among the ParaSwap DAO's delegate, and OKX on the other hand shutdown their Dex service which I never see or hear anything about eXch doing anything related to that and from the record eXch is a privacy automatic cryptocurrency exchange, which I believe it is not decentralized.
Now that there is a suspect, will Bybits recover it's lost funds. Can we still trust Bybit with our assets?
It is not possible for them to recover 100% of the fund, but why would anyone trust CEX with his/her own asset when they are not to be use as storage in the first place.