Bybit Replenishes 1.4B Post Hack

Bybit Restores 1:1 Asset Backing After $1.4 Billion Hack

• Bybit replenished its assets with 446,870 ether (ETH), valued at $1.23 billion.
• The recovery involved over-the-counter trades worth $400 million and $300 million from exchanges.
• Loans accounted for nearly $300 million of the recovered funds.
• The hack exploited Bybit’s offline “cold” wallet, resulting in a $1.4 billion loss.
• ZachXBT linked the attack to North Korea’s Lazarus Group, known for major crypto thefts.

Bybit has restored normal deposit and withdrawal operations after recovering assets through large-scale purchases and loans following a significant security breach attributed to the Lazarus Group.