Bybit has resumed all withdrawal processes and restored its system to normal operations following a significant security breach that extracted $1.5 billion from the exchange. Ben Zhou, the CEO of Bybit, confirmed via a social media update that all pending withdrawals have been processed and there are now no limits or delays. Zhou expressed his apologies to users for the disruption and stated that more information, including a full incident report and security assessment, would be forthcoming.
In a previous update, Zhou had warned users about potential delays in withdrawals due to system congestion resulting from the hack, which primarily affected Ethereum-related tokens. At the peak of the issue, approximately 4,000 withdrawal transactions were pending.
The response from the cryptocurrency community has been largely supportive. Industry figures have praised Zhou’s management of the crisis, describing it as effective and commendable. The Moon Show’s Carl Moon and EasyDNS CEO Mark Jeftovic were among those who voiced their approval. In solidarity, other exchanges like Bitget and Crypto.com have offered their support; Bitget transferred 4,000 Ether, valued at about $105 million, to assist Bybit. Bitget CEO Gracy Chen announced that the company has blacklisted the hackers’ wallets and is actively monitoring for illicit activity.
