Cryptocurrency exchange Bybit quickly withdrew 40,000 ETH borrowed from Bitget following a $1.4 billion hack believed to be the work of the Lazarus Group.
After Bybit was hacked by BitJet on the 21st of last month, the largest-ever hacking attack, the company repaid the full amount of 40,000 ETH it had borrowed from BitJet three days later.
It was reported that the hacking was led by the Lazarus Group, a known North Korean hacking organization, and that cryptocurrency worth about $1.4 billion was stolen.
Bybit responded quickly and recovered all the stolen assets, and resumed normal operations on the exchange.
On the 2nd, on-chain analysis company Lookonchain reported that Bitget had loaned 40,000 ETH (approximately $104 million, or 15.5 billion yen).
Then, on-chain data on February 25 confirmed that Bybit had successfully returned 40,000 ETH to BitGet.
Bitgate CEO Gracy Chen also officially confirmed this, saying that the loan was interest-free and unsecured, and was for the sole purpose of supporting the company.
"There was no interest, no collateral, we simply assisted partners who needed help," he said. "We knew Bybit would never repay the loan," he added.
I have never doubted that," he added.
2025/02/26 14:03 KST
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