Bybit Recovers from Massive $1.5 Billion Theft

Following a significant security breach on February 21, cryptocurrency exchange Bybit has announced the full restoration of its services. The platform experienced unauthorized activities in its ETH cold wallet, leading to a theft of over 400,000 ETH and stETH, valued at more than $1.5 billion.

In a remarkable recovery effort, Bybit, in collaboration with the mETH Protocol, managed to retrieve 15,000 cmETH, approximately worth $42.76 million. The exchange has also confirmed that deposit and withdrawal activities have now returned to pre-incident levels, signaling a return to normalcy for its users.