Bybit Recovers $600 Million Ethereum (ETH) After $1.5 Billion Crypto Robbery

Jakarta, Pintu News – Crypto exchange Bybit recently suffered a major robbery with losses reaching $1.5 billion in Ethereum ETH0.41%->Current ETH PriceRp 31.328.2340.41%Market CapRp 7.444 TriliunTrading VolumeRp 594,65 TriliunCirculating SupplyRp 120.452.072 assets. In an effort to recover, Bybit received an injection of $600 million in Ethereum (ETH) from Mirana Ventures, which is closely associated with Bybit’s founder. This step was taken to mitigate the financial impact of the robbery and restore user confidence.

Ethereum (ETH) Fund Injection by Mirana Ventures

Mirana Ventures, which is a major capital provider and associated with Bybit’s founders, has played a significant role in Bybit’s asset recovery process. Within three days, Mirana Ventures successfully acquired and transferred $600 million worth of Ethereum (ETH) to Bybit. This makes them the largest Ethereum (ETH) depositor since the robbery incident.

This transaction aims to cover the shortfall caused by the robbery and help stabilize Bybit’s finances. Quickly, this move also supports Bybit’s efforts in maintaining user trust and ensuring the safety of their funds.

Also Read: Senator Dick Durbin Introduces Legislation to Stop Fraud at Crypto ATMs

The role of North Korea’s Lazarus Hacker Group

Investigations conducted into the Bybit robbery suggest that North Korean hacker group Lazarus was behind this attack. The group is known for its frequent attacks on crypto exchanges and financial institutions. They have been involved in several high-profile crypto heists before.

Lazarus’ involvement in this robbery adds to the long list of cybercrimes they have committed. This emphasizes the importance of tighter cybersecurity in the crypto industry, especially for exchanges that handle large transaction volumes.

Recovery Steps and Bybit’s Future

In response to the robbery, Bybit immediately implemented various security measures to secure user funds and close existing security loopholes. In addition, Bybit also secured bridge loans to facilitate withdrawal of funds by users, which is an important step in maintaining their trust.

Bybit’s CEO, Ben Zhou, confirmed that the exchange has managed to fully restore 1:1 client asset support, demonstrating a quick and effective recovery from the impact of the robbery. Bybit has now resumed its normal operations, demonstrating resilience and dedication in the face of crisis.

Conclusion

With quick and effective steps to address the crisis, Bybit demonstrated its commitment to maintaining user safety and trust. The funding injection from Mirana Ventures and the recovery measures taken confirm Bybit’s position as one of the leading crypto exchanges capable of overcoming major challenges.

Also Read: Bitcoin (BTC) Movement Amid Price Decline: What Are Whales Doing? (2/26/25)

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Bybit Hack: Mirana Ventures Pump 600M ETH After $1.5B Crypto Heist. Accessed on February 26, 2025
• Featured Image: PCMag