Bybit repays Bitget’s 40,000 ETH loan after $1.4B hack
Bybit swiftly repaid a 40,000 ETH loan from Bitget, ensuring smooth withdrawals after a $1.4 billion hack attributed to the Lazarus Group.
Crypto exchange Bybit repaid 40,000 Ether it borrowed from Bitget within three days, after a $1.4 billion hack disrupted the crypto exchange on Feb. 21.
Bybit was exploited on Feb. 21 in what has been reported as one of the largest cryptocurrency hacks in history, allegedly orchestrated by North Korea’s Lazarus Group. Despite the attack, Bybit replenished the stolen crypto assets and maintained operations without major disruption.
As part of its recovery effort, Bybit borrowed 40,000 Ether (ETH) worth about $104 million, from Bitget “as a loan to handle customer withdrawals,” Lookonchain reported on Feb. 22.
