Bybit management, which was the victim of the largest cryptocurrency hack in history yesterday evening, provided various additional updates to its users today.
As is known, $1.46 billion worth of Ethereum was stolen from Bybit yesterday. This constituted the majority of Bybit’s ETH reserves. On the other hand, Bybit CEO Ben Zhou acted early and informed his users, announcing that users’ stolen assets would be replaced.
However, Bybit had stated that new ETH would not be purchased to replace the stolen ones, but would instead resolve the issue through loans with its partners.
Today, Bybit CEO Ben Zhou provided an update to his users after the hack incident. According to Zhou, all user withdrawals requested from the exchange have been completed. He added that the entire withdrawal system has been restored to normal, and the desired amount of cryptocurrency can be withdrawn without delay or problems. Zhou apologized for the incident and thanked his customers for their patience.
The CEO said a detailed report on the incident would be published within a few days and security measures would be increased. He added that the real work had begun now.
However, the Lazarus Group responsible for the hack transferred the 5,000 ETH it obtained to a new address and began laundering the funds through eXch (a centralized mixer) and bridging the funds to Bitcoin through Chainflip.
Related News
BREAKING NEWS: $1.46 Billion Unexpected Fund Outflow from One of the Largest Cryptocurrency Exchanges – Follow All the News Here
Binance founder Changpeng Zhao had called out to Bybit, suggesting that the exchange temporarily suspend customer withdrawals to prevent further losses.
*This is not investment advice.
