Bybit Recovers 447,000 ETH After Major Hack

In Brief:

Bybit has recovered 446,869 ETH (~$1.23B) through loans, large deposits, and ETH purchases.

The exchange is close to covering the losses from the hacking incident.

Bybit is making rapid progress in replenishing funds lost during the recent $1.4B hack. According to Lookonchain data, the exchange has acquired nearly 447,000 ETH from various sources, including institutional deposits and strategic purchases.

The move reinforces Bybit’s commitment to stability, ensuring users remain confident in the platform’s security and liquidity. With the recovery efforts ongoing, the exchange is also offering a $140M bounty for any assistance in retrieving stolen assets.

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