šØ Bybit Security Breach ā Emergency ETH Transfers šØ
Yesterday, 70% of all the exchangeās ETH was stolen from Bybit wallets, creating a major coin shortage. If users rushed to withdraw, Bybit could have faced serious liquidity issues.
To prevent chaos, Bybit sought urgent ETH credit, and the response was swift:
š¹ Bitget sent 40,000 ETH ($106M) to Bybit for customer withdrawals
š¹ Bitget moved 11,800 ETH ($31M) from Binance to Bybitās cold wallet
š¹ Binance transferred 36,000 ETH (~$96.5M) from a hot wallet to Bybitās cold wallet
Bybit is now stabilizing withdrawals, but this event raises huge security concerns for exchanges.
