According to Lookonchain, a hacker associated with the Lazarus Group has transferred 10,000 ETH (valued at $27 million) to Bybit Exploiter 54 to begin laundering the funds. The hacker still retains 489,395 ETH, valued at approximately $1.32 billion, and 15,000 cmETH in 53 other wallets, although the cmETH is currently non-withdrawable. This activity suggests significant market implications as such large-scale transfers could influence ETH liquidity and volatility.

According to Crypto Rover, the Bybit hacker is unlikely to exchange Ethereum (ETH) for stablecoins because Tether and Circle would freeze the funds. He suggests that shorting ETH currently is not advisable and implies an opportunity to buy during the dip.