Hackers are believed to be linked North Korea’s Lazarus GroupWe have exploited weaknesses in BYBIT’s Multisig Cold Wallet system. They drained about $ 11.3 billion in 401,346 ETH from the platform’s hot wallet. The violation of the total reserves of Bibit decreased $ 5.2 billion, raising concerns about financial stability.
Bybit moved quickly to secure emergency funds. According to the warm chain data, deposits and withdrawal returned to normal immediately after the attack. Now ZHOU has checked bybit ‘ ETH Holdings are completely supported by a 1: 1 ratio of client assets.
The exchange will soon be announced on the appreciated re -transmission proof (POR) report. The report, which uses the Merkle Tree system, provides transparent evidence of BYBIT’s financial status.
To restore the reserves, BYBIT has secured 446,870 ETH from various sources. This included loans, whale deposits and direct purchases. BitGet loaned 40,000 ETH, MEXC provided 12,653 states, and other donations came from DWF Labs, Mirana Ventures and possible Fenbushi Capital Backing.
BYBIT also started the bounty program and rewarded up to 10%of the recovered assets. Searching for a total of $ 1.3 billion will allow participants to earn up to $ 140 million.
Despite BYBIT’s rapid recovery, Ether Leeum’s price is volatile. ETH is currently trading at $ 2,731, down 2% over the last 24 hours.