This is really a good news for the crypto industry at large.

According to PANews, Web3 auditing firm Hacken, in collaboration with Bybit, has released an update on proof of reserves following a significant cyberattack that has heavily impacted the industry. Despite the attack, Bybit's reserves continue to exceed its liabilities. As the independent auditor for Bybit's proof of reserves, Hacken has confirmed that user funds remain fully supported. This indicates that Bybit possesses sufficient reserves to cover all user assets, maintaining its solvency while prioritizing security and transparency.In response, Bybit CEO Ben stated that Hacken's audit of their finances demonstrates their ability to compensate for customer losses using their own financial resources.