Bybit returns 40k ETH post-hack loan from Bitget
Bybit has transferred nearly $ 100 million from ETH to Bitget. Bitget lent 40,000 ETH to Bybit immediately after the hacking of $ 1.4 billion.
According to data From Arkham Intelligence, Bitget received 40,000 Ethereum (Ethn) from a Go through Cold Wallet on February 24, worth around 99.98 million dollars at the time of the transfer. Bitget was one of the first exchanges to come to the rescue of Bybit after the scholarship lost around $ 1.4 billion in Ethereum in one of the largest cryptography hacks to date.
The data on the chain show that Bybit first moved the Ethereum piece of the hot portfolio of the exchange to a cold wallet before transferring it to Bitget. In addition, Bybit also moved 47,800 ETH ($ 118 million) to their cold portfolio before Bitget transfer.
Earlier in the day, the bybt was also seen making a transfer of 3,000 ETH to Binance from a hot portfolio, worth $ 7.5 million at the time.
At the time of the press, Ethereum has dropped by almost 9% in the last 24 hours. The second largest cryptocurrency by market capitalization is currently negotiated at $ 2,489. In the past few days, the ETH has been downwards, dropped 7% last week and decreased by more than 25% in the last month.
The path of the resumption of Bybit
As before reported By crypto.News, Bybit said that he had completely covered the loss of $ 1.4 billion in Ethereum tokens suffered from hacking. Bybit was able to fill the gap thanks to whale deposits, ethn purchases and loans in various exchanges, including Bitget.
One day after hacking on February 22, the Bebit received $ 172.5 million from Ethereum loaned by various exchanges and crypto companies to cover customer withdrawals. These loans included 40,000 ETH of Bitget, 12,652 in Lido ETH (Steth) of Mexc, and 11,800 eTH Binance.
While Bybit began to return the loans to these exchanges, it may seem that he is already recovering from the loss four days after the incident took place. On February 24, the CEO of Bebit said that the exchange would soon publish a record plan report verified to show that Bybit is “100% 1: 1 on customer assets”.
Despite rapid recovery, data On Arkham Intelligence shows that the Pirate of Bybit, supposed to be the Lazare group, began to whiten the stolen funds. Pirate -related portfolios made two to three transactions per minute, moving the ETH from one address to another.
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