Bybit's Triumph Over a Massive Security Breach

In a remarkable turn of events, Bybit, a leading cryptocurrency exchange, announced on Sunday that its platform has successfully returned to normal operations. This comes after a significant hacker attack on February 21, which had initially disrupted its services.

Recovery and Restoration Efforts

"Following yesterday's security incident involving unauthorized activities in our ETH cold wallet, Bybit is pleased to announce the full restoration of services and significant progress in our recovery efforts," stated Bybit in a press release. The exchange also highlighted that "Deposit and Withdrawal Activity has returned to pre-incident levels," showcasing their swift response and resilience.

Details of the Security Breach

The crypto exchange had earlier revealed the attack on its Ethereum wallet, emphasizing that over 400,000 ETH and stETH, valued at more than $1.5 billion, were stolen. However, in a collaborative effort with the mETH Protocol, Bybit managed to retrieve 15,000 cmETH, worth approximately $42.76 million, marking a significant step towards mitigating the impact of the breach.