“Bybit is Solvent even if this hack loss is not recovered”, reassures CEO Zhou – BitRss

• Bybit CEO has claimed that all funds are SAFU and that the exchange would continue operations as usual
• While the hack has been confirmed, the exchange is yet to provide a statement on the exact amount lost to the hack
• As per statement by blockchain investigator – ZachXBT, the hack might have resulted in a loss of over $1.4 billion

Crypto exchange – Bybit – has made headlines for becoming the victim to one of the biggest hacks so far this year. According to ZachXBT – blockchain investigator, the exchange might have lost nearly $1.46 billion in Ethereum. And, despite the massive loss, the co-founder and CEO of the exchange – Ben Zhou has taken to social media to assure the users of the exchange that all is well. In a post made on X, Zhou said,

“Bybit is Solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss.”

Business as usual for Bybit

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