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Bybit’s ET...
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Cryptopotato

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Image Credit: Cryptopotato

Bybit’s ETH Reserves Rebound, But Bitcoin and USDT Holdings See Major Declines

  • Bybit suffered a significant security breach, losing 401K ETH in a crypto heist attributed to the Lazarus Group.
  • Bybit quickly replenished its ETH reserves through other exchanges and brokers, ensuring functional withdrawals.
  • Bybit's Bitcoin reserves decreased by 32% and USDT reserves dropped by 48% following the hack.
  • Despite the hack, the market response was relatively muted, demonstrating the maturity of the crypto ecosystem.

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