Bybit's CEO, Ben Zhou, addressed the public live at a press conference following a significant hack that led to more than $1.46 billion in losses.
Overview of the Incident
During the press conference, Zhou highlighted that the losses amounted to 400,000 ETH, equivalent to approximately $10 billion. The theft was recently discovered, and Bybit's team is actively working on resolving the issue.
Steps to Cover Losses
The company has managed to find ways to cover the losses through its treasury reserves and potential bridge loans from partners. Currently, 80% of the required funds are already secured.
Service Status and Withdrawals
Ben Zhou stated that 70% of withdrawal requests have been processed, and the peak of the outflow is over. Procedures for large requests go through standard security checks. The service is currently operating normally, and all pending withdrawals will be processed in the coming hours.
Despite the scale of lost assets, Bybit remains operational and committed to ensuring user safety. All products and services continue to function normally.
