Bybit, one of the largest cryptocurrency exchanges, has fully recovered from the largest crypto hack in history. The Dubai-based exchange successfully closed the $1.5 billion gap left by the hack and released a new proof of audit confirming that all client assets are backed 1 to 1. Bybit has replenished nearly 450,000 missing Ether tokens through strategic loans and support from firms like Galaxy Digital, Falcon X, and Wintermute. Withdrawals remain open for customers to access their funds on the platform. However, recovering the stolen assets is proving to be a challenge, with blockchain firm Elliptic attributing the hack to North Korea’s Lazarus Group. Bybit is offering a bounty for the return of the stolen assets, but tracking the funds laundered into Bitcoin and mixing services makes it increasingly difficult. The industry is closely monitoring the impact of this breach, with Ether prices down nearly 5% in the last 24 hours. Despite pro-crypto policies being implemented globally, gaps in technology security still exist.
