#Bybit CEO #BenZhou announced that the exchange has fully restored its Ethereum reserves after the record-breaking $1.4B hack. A Proof-of-Reserves (PoR) report is coming soon. ⏳
How did they do it? 🤔 According to Lookonchain, Bybit covered the deficit using borrowed funds, whale deposits, and OTC ETH purchases.
Despite losing 400,000+ $ETH from a cold wallet on Feb 21, Bybit avoided a liquidity crisis and kept withdrawals running.🔥
