CandleFocus Bybit gets 350k withdrawal requests following the hack, receives 40,000 ETH loan from Bitget
2025-02-22
Author: Content Editor
Earlier today, Bybit, a cryptocurrency exchange, lost $1.5 billion in digital assets due to a compromise of one of its cold wallets. As a result, the exchange received over 350,000 customer withdrawal requests, with CEO Ben Zhou stating that 99.99% of the requests have been processed, leaving only 2,100 remaining. To address the situation, Bitget, another crypto exchange, transferred 40,000 ETH worth $106 million to Bybit as a loan to cover the customer withdrawals. Analysis firm Elliptic identified the North Korean group Lazarus as the hackers responsible for the attack and has taken measures to prevent the stolen funds from being accessed through other exchanges.
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