4:05am UTC Update February 24th: This article has been updated to include the latest statement from Bybit CEO Ben Zhou.
Bybit CEO Ben Zhou says his cryptocurrency exchange completely replaced the $1.4 billion worth of ether that was hacked on February 21.
A new audited, proven report will be published soon to show that Bybit's client assets have returned to a 1:1 ratio via Merkle Tree. I said Posted on February 24th X.
sauce: Ben Zhou
Blockchain analytics firm LookonChain estimates that BYBit received 446,870 ether. This is worth around $1.23 billion from loans, whale deposits and purchases, and 88% of the $1.4 billion stolen from North Korea's mentioned hacker organization Lazarus Group on February 21. It accounts for %. .
Therefore, lookonchain Found That Bibit Linked Wallet address “0x2E45 … 1B77” purchased 157,660 ether (ETH), worth $437.8 million, from Crypto Investment Firms Galaxy Digital, Falconx and WinterMute.
Another $344 million ether purchased using a wallet address “0xd7cf … a995” is “highly likely” through centralized and decentralized exchanges, Lookonchain said.
Arkham data shows that the “0xd7cf … A995” address interacted with Binance and MEXC hot wallets.
Ether will move from Galaxy Digital, Falconx, WinterMute to the “0x2E45 … 1B77” wallet address on the Bibit link.
Several transfers were sent to their wallet addresses to form each of those amounts. The first purchase from “0x2e45 … 1b77” took place on February 22nd at 4:44pm.
The $1.4 billion hack was the largest in the history of the code, accounting for more than 60% of all cryptocurrency funds stolen in 2024.
Related: Ethereum rollback is considered “technically cumbersome” amid bibit hack pressure
BYBIT customer withdrawals also exceeded $5.3 billion on February 22nd. Booking Certification Auditor Hacken said that Crypto Platform reserves still exceed its liability and the user fund remains fully supported.
Bybit's total assets are currently $10.9 billion, Defilama data show.
Ether fell more than 7% in the next 7 hours after the hack, falling from $2,831 to $2,629, but has since recovered to $2,765. show.
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