Crypto exchange Bybit has initiated quick measures to recover from the hack over the past weekend gathering nearly $700 million worth of Ethereum in just 48 hours of the hack. The crypto exchange has gathered a total of 254,830 ETH in the form of OTC deals and loans sourced from multiple players.
Bybit Amasses $693M in Ether Post-Hack
Following its recent security breach, crypto exchange Bybit has amassed a significant amount of Ethereum (ETH) worth $693 million in the last 48 hours. The funds were reportedly sourced through various channels, including over-the-counter (OTC) deals and loans. Also, the data from SpotOnChain shows the breakdown of the ETH acquired in recent times.
OTC Acquisitions: 132,178 ETH (worth $367 million) likely obtained through deals with Galaxy Digital, FalconX, and Wintermute.
Institutional Loans: 122,652 ETH (valued at $326 million) sourced from exchanges and institutions such as Bitget, MEXC, Binance, and DWF Labs.
Bybit CEO Reaffirms Market Participants
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