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 CEO Ben Zhou announced that the exchange has fully recovered its Ethereum (ETH) reserves following a massive $1.5 billion exploit on February 21. He confirmed that a new audited Proof of Reserves (POR) report will soon be released to prove that client assets are once again backed 1:1.

Bybit has returned to a 1:1 backing of client assets and has fully closed the “ETH gap” it faced after an unprecedented $1.4 billion hack hit the exchange. Address activity suggests more than $400 million were purchased through over-the-counter trading, with another $300 million brought directly from exchanges.

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.

Chainalysis said the hackers are deliberately keeping the funds idle to avoid heightened scrutiny after the high-profile incident.

Bybit CEO said the exchange has restored its Ethereum holdings after a $1.5B hack and will release a proof-of-reserves audit soon.

Hacked crypto exchange Bybit replenished the $1.4 billion in Ether stolen days ago, CEO Ben Zhou said Monday. A new proof-of-reserves audit will confirm that client

Bybit Web3, one of the world’s most visited crypto exchanges and an NFT marketplace, has closed the liquidity gap left after the recent hack.

Bybit replenished its $1.5 billion deficit within three days following the most significant crypto hack in history. The gap was filled using a combination of