Here’s an updated summary of the latest news about the Bybit hack:
1. Hacker Attack: Bybit, one of the leading cryptocurrency exchanges, was hacked on February 21, 2025, with an estimated loss of $1.4 billion in Ether ($ETH ). The attack has been attributed to the North Korean hacker group Lazarus.
2. Fund Recovery: Bybit has stated that they have fully recovered the value of the stolen assets through loans, whale deposits, and purchases. Approximately $42.85 million of the stolen funds have been frozen on various platforms.
3. Market Impact: The attack caused temporary volatility in the cryptocurrency market, with the price of Ether dropping by over 7% immediately after the attack but later recovering some of its value.
4. Security Measures: Bybit is strengthening the security of its platform and has launched a reward program for anyone who helps recover the stolen funds. Additionally, they are collaborating with blockchain security experts to trace the stolen funds.
In the next post we'll talk about #EthereumRollbackDebate
Personal opinion: Binance Is Better 😄
