Cryptocurrency Exchange Bybit, which has recently faced a large economic challenge after being a victim of $ 1.4 billion and is now trying fast to cover this major loss. According to reports, bybit has purchased around 157,660 eths in $ 437.8 million, which has been bought from major over-the-counter (OTC) dealers such as the bought Galaxy Virtual, Falconx and Wintermute. Efforts are being made to improve the situation of Bybit with this purchase, this exchange was impressed by the attack by North Korean Hacking Group “Lazarus” in February 2025 and a news has come out with it, which told Gone that after bybit hack Wazirx has secretly transferred ₹ 606 croreAfter hack, such incidents are indicated, this is the largest hack ever and this has increased the stir in the Crypto community.
According to the blockchain analytics company Lokonchain, bybit has so far raised around 446,870 eth (about $ 1.23 billion), including loans, whale deposits and purchases. The purpose of all these efforts is to quickly fill the huge finicular loss after hack. This step of Bybit is quite important to re -estimate his long -standing identity and maintain the user’s trust.
Bybit Recovery Planning and Future Challenge
recently Bybit CEO Ben Zhou’s big statement In which he had described Pi Coin as a scam and soon after this, bybit hacks, which is now constantly being made to overcome. Recently, the ETH that Bybit has bought is to strengthen its reserves, so that it can keep the funds of its users safe. After a $ 5.3 billion withdrawal from the exchange on 22 February, a proof-off-revolutionary audit conducted by Hacken confirmed that, bybit has more reserves than its liability, ensuring safety of user funds. However, the price of Eth after hack declined by about 7%, but now Eth’s price has reached $ 2,765, which was the first $ 2,831.
Bybit’s decision to buy this eth, shows that it is actively trying to strengthen its reserves, but no official statement has been released by the exchange yet. The success of this recovery planning is being questioned in the future. However, bybit will have to face several challenges to re -assure safety and trust on its platform.
Conclusion
This time for bybit is quite challenging and will have to work hard to regain the trust of his investors and users. The purchase of Eth is an important step to make up for the damage done by hack and to ensure safety of user funds, but it will have to be seen whether bybit is successful in its recovery planning or not. Although bybit’s strategy and transparency in the future It will depend on whether he is able to regain his lost identity in the crypto industry.
Also read:Memefi Day by Day Codes for November 15, Aron Virtual Coin
