Bybit’s $1.4 billion hack, the largest in crypto history, might have unexpected implications for Ethereum. As the exchange moves to recover, could this be a bullish catalyst for ETH?

Bybit has officially filled the $1.4 billion hole left by one of the biggest crypto hacks in history. CEO Ben Zhou announced that the exchange

Bybit said it successfully navigated the biggest cryptocurrency heist ever recorded, in which hackers stole about $1.5B in digital assets from the crypto exchange's ethereum cold wallet. Hackers stole over 400,

Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

Bybit’s $1.4B hack revealed security flaws, with experts from Ledger, Fireblocks, and CZ urging MPC wallets, off-chain settlement, and stronger governance.

Cryptocurrency exchange Bybit has experienced total outflows exceeding $5.5 billion after suffering a $1.4 billion security breach, reportedly carried out by hackers linked to North Korea’s Lazarus Group. The attackers targeted the exchange’s ether cold wallet, prompting Bybit to secure emergency funding to maintain withdrawal operations.

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Market intelligence platform CryptoQuant says that the Ethereum (ETH) reserves of Bybit are recuperating after the crypto exchange was hacked to the tune of $1.4 billion.

Bybit has returned to a 1:1 backing of client assets and has fully closed the “ether gap” it faced after an unprecedented $1.4 billion hack hit the exchange late Friday.