Bybit Closes ETH Gap After Billion Dollar Hack, Proof of Reserves Coming
- Bybit nears ETH recovery as exchange closing ETH gap post-$1.5B hack.
- Bybit to release Proof of Reserves report showing 1:1 asset backing
- Loans & buys fuel Bybit’s ETH recovery efforts, $1.23B Inflow for ETH to-date
In a swift recovery move after the $1.5 billion hack, Bybit is almost finished closing the ETH gap. CEO Ben Zhou has announced a proof of reserves report to be released soon to confirm the exchange’s return to full asset backing.
Data from blockchain analysis platform Lookonchain shows Bybit has received a significant 446,870 ETH worth around $1.23 billion through loans, whale deposits, and ETH purchases to fill the ETH gap caused by the hack.
Zhou asked the crypto community to “stay tuned” in a post on X (formerly Twitter), adding that the new audited POR report “will be published very soon to show that Bybit is again Back to 100% 1:1 on client assets through merkle tree.”
Hacker Sells ETH, Bybit Buys to Stabili…
The post Bybit Closes ETH Gap After Billion Dollar Hack, Proof of Reserves Coming appeared first on Coin Edition.
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Bybit Closes ETH Gap After Billion Dollar Hack, Proof of Reserves Coming
- Bybit nears ETH recovery as exchange closing ETH gap post-$1.5B hack.
- Bybit to release Proof of Reserves report showing 1:1 asset backing
- Loans & buys fuel Bybit’s ETH recovery efforts, $1.23B Inflow for ETH to-date
In a swift recovery move after the $1.5 billion hack, Bybit is almost finished closing the ETH gap. CEO Ben Zhou has announced a proof of reserves report to be released soon to confirm the exchange’s return to full asset backing.
Data from blockchain analysis platform Lookonchain shows Bybit has received a significant 446,870 ETH worth around $1.23 billion through loans, whale deposits, and ETH purchases to fill the ETH gap caused by the hack.
Zhou asked the crypto community to “stay tuned” in a post on X (formerly Twitter), adding that the new audited POR report “will be published very soon to show that Bybit is again Back to 100% 1:1 on client assets through merkle tree.”
Hacker Sells ETH, Bybit Buys to Stabili…
The post Bybit Closes ETH Gap After Billion Dollar Hack, Proof of Reserves Coming appeared first on Coin Edition.
Read More