Bybit Recovers from Massive $1.5 Billion Theft

Following a significant security breach on February 21, cryptocurrency exchange Bybit has announced that its platform's transactions have returned to normal. The breach involved unauthorized access to the ETH cold wallet, leading to a theft of over 400,000 ETH and stETH, valued at more than $1.5 billion.

Bybit has made significant progress in its recovery efforts, collaborating with the mETH Protocol to retrieve 15,000 cmETH, worth approximately $42.76 million. The exchange has reassured its users that deposit and withdrawal activities have now returned to pre-incident levels, ensuring the security and integrity of its platform moving forward.