“At Bitget we strongly believe in supporting the community and everyone contributing towards the growth of crypto. The largest crypto hack in the industry was carried out on Bybit recently. Our systems have blacklisted hacker's wallets. We will block any transactions flowing in from illicit addresses to the exchange once it has been monitored. Our team of security, and researchers, are currently tracking these activities. If we make any significant findings, we will share an analysis of this incident and what industry can do to avoid similar issues.
Today Bitget transferred 40,000 ETH (worth roughly $105 million) to Bybit to support them in dealing with the situation.
Here’s the transaction details: https://etherscan.io/tx/0x284b346223079f879222e2112b9ee2b8ad3dd00aa6c68d1dda1d0aa68b47cc47
These are Bitget’s own funds, which we have sent for the goodwill of the cryptospace. All Bitget’s users’ funds are securely stored on our platform and users can check the Proof of Reserve accordingly.
As of now Bybit has already processed 99% of the withdrawals on the platform. Bybit is a respected competitor and partner to us. This loss, even though extremely significant, is roughly about a year’s profit of the exchange. We will continue to monitor the incident, and if Bybit needs more support we’re here to provide.
Attributed: Gracy Chen, CEO at Bitget
