Bybit Acquires 446,870 ETH Post-Hack: A Step Towards Loss Recovery

As of February 24th, COINOTAG News reports that following a significant hacking incident, Bybit has successfully secured an estimated 446,870 ETH, equating to roughly $1.23 billion. This capital influx has been facilitated through a combination of strategic loans, deposits from high-net-worth whales, and direct purchases. These actions highlight Bybit’s proactive measures to rebound from the incident, enhancing its liquidity and market confidence. The recovery trajectory signals a robust response strategy in the face of adversity, as the exchange aims to restore its operational integrity and maintain its competitive edge in the volatile cryptocurrency market. Investors are closely observing the exchange’s next steps as it works to mitigate the impact of security breaches while striving to reassure its user base.