Bybit has “fully closed the ETH gap,” says CEO after $1.4 billion Lazarus hack

Key points:

Dubai-based centralized exchange Bybit has fully replaced the $1.4 billion ETH hacked last Friday.

A proof-of-reserves will be published very soon.

The price of Bitcoin barely flinched (only down 3%) while the industry faced an enormous crisis.

News - Bybit CEO Ben Zhou says that the cryptocurrency exchange has fully replaced the $1.4 billion worth of Ethereum hacked on Friday, February 21. North Korean hacker organization Lazarus Group is allegedly behind the attack.

Zhou also confirmed in a post on X (formerly Twitter) on February 24 that a new proof-of-reserves audit will be published very soon. This report would show that Bybit’s client assets are back at 1:1 through the Merkle tree.$ETH