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@ Layer3.news
2025-02-24 05:26:34
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BYBIT CLOSES 'ETH GAP' AS EXCHANGE REPLENISHES $1.4B HOLE AFTER HACK
https://cdn.sanity.io/images/s3y3vcno/production/abc7d1dd01270fb8f15f16714372cfa1dcf787a9-2400x1600.jpg?auto=format
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✍️ Bybit has recovered from a $1.4 billion hack by returning to a 1:1 backing of client assets and closing the 'ether gap'. The exchange received $1.23 billion in ether through loans and purchases.
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👉 Bybit has returned to a 1:1 backing of client assets
👉 The exchange received $1.23 billion in ether through loans and purchases
👉 The hack targeted one of Bybit's offline 'cold' wallets
👉 The stolen assets were split across multiple wallets and swapped on decentralized exchanges
👉 Blockchain sleuth ZachXBT linked the hack to North Korea's Lazarus Group
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#ZachXBT #technology
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