EddieJayonCrypto

 26 Feb 25

tl;dr

Bybit has repaid a 40,000 Ethereum loan, valued at around $99.98 million, obtained from Bitget following a $1.4 billion security incident. The repayment occurred on Feb. 24, with Bybit transferring the funds from its cold wallet back to Bitget. Bitget CEO Gracy Chen confirmed the return of the funds...

Bybit has repaid a 40,000 Ethereum loan, valued at around $99.98 million, obtained from Bitget following a $1.4 billion security incident. The repayment occurred on Feb. 24, with Bybit transferring the funds from its cold wallet back to Bitget. Bitget CEO Gracy Chen confirmed the return of the funds and emphasized that the loan was given as a gesture of support with no interest or collateral requirements.

Bybit also transferred an extra 47,800 ETH, worth around $118 million, from its cold wallet into Binance to settle loans obtained from other institutions and large crypto holders. Meanwhile, the attackers have laundered around 100,000 ETH, valued at approximately $250 million, through complex steps.

Bybit CEO Ben Zhou announced the development of a system to prevent hacks and improve industry-wide efforts to recover lost funds.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 14 Mar 25
 14 Mar 25
 14 Mar 25