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Bybitt says it supplements reserves after $1.5 billion hacker Last week, it was the largest in the history of the cryptocurrency industry.
In less than 72 hours, Bybit combined hundreds of thousands of Ether tokens through emergency loans and large sediments. While the Quick Recovery restores the exchange’s balance and keeps customer withdrawals open, it does not consider stolen cryptocurrencies.
The violation occurs during regular internal transfers, when Bybit transfers funds from its offline “cold wallet” to a “cold wallet” designed to be secure, allowing the “warm wallet” to enable active transactions. During the transfer, hackers exploited the security gap, intercepting transactions and redirecting funds to unknown addresses.
Bybit CEO this week Post on X On Sunday, the exchange remained a solvent, adding that client assets were still fully supported and withdrawals remained open.
company Received nearly 447,000 Ether tokens Emergency funds through companies such as Galaxy Digital, Falconx and Wintermute. one Reserve Certificate Audit By Hacken, a cybersecurity company Bitcoin,,,,, etherSolana, Tether and USDC have over 100% collateral rates.
Recovering stolen assets remains a challenge.
Blockchain analysis company Elliptic has identified North Korea’s Lazarus Group as Perpetrator of the attack. According to Elliptic, the stolen funds were initially spread out among 50 different wallets, each with about 10,000 Ether tokens, part of the effort to launder money.
As of February 24, more than US$195 million (about 14.5% of the stolen assets) have been transferred.
Bybit offers a 10% bounty to return stolen funds, but history shows that the chance of recovery is small.
Lazarus Group Have past achievements It was reported that cryptocurrencies were robbed to evade international sanctions and used stolen assets to fund North Korea’s nuclear program. In 2022, the group stole $600 million from Axie Infinity and recovered only $30 million despite law enforcement intervention.
The token Ether at the center of this attack has dropped by about 5% over the past day.
watch: Bybit says it has successfully supplemented the reserves
