Bybit Recovers 70% of Stolen ETH After Historic Hack

Bybit, a leading cryptocurrency exchange, has recovered around 70% of its Ethereum (ETH) reserve following a significant hack earlier this month. As of February 23rd, Bybit holds approximately 308,100 ETH, according to data from CryptoQuant.

On February 21st, Bybit suffered a major security breach, resulting in the loss of over $1.4 billion worth of STETH, mETH, and other Ethereum ecosystem tokens. This incident marked the largest crypto theft in history. In the aftermath of the attack, Bybit's ETH reserves plummeted to around 61,000 coins at one point.

The recovery of Bybit's ETH reserve is a testament to the exchange's resilience and the crypto community's collective effort in addressing security threats. Bybit has expressed its gratitude to the community for their support during this challenging time.

The hack on Bybit has raised concerns about the security of cryptocurrency exchanges and the need for enhanced measures to protect user assets. As the crypto industry continues to grow, so does the importance of robust security protocols and transparent communication with users.