Bybit has successfully frozen $42.89 million in stolen funds within 24 hours of the hack, demonstrating swift action against cybercrime. In response to the incident, Chainflip, a cross-chain bridge reportedly used by the hackers to exchange stolen Ethereum (ETH) for Bitcoin (BTC), announced plans to upgrade its protocol. The upgrade aims to block the illicit flow of the hacker's funds through its decentralized exchange (DEX). Chainflip stated that most of the necessary code for the upgrade has been written and is in the testing phase, with deployment scheduled for the network soon. This emergency upgrade is part of a broader effort to prevent similar incidents in the future.