Behold, fellow denizens of the crypto cosmos! In a grand saga of e-currency folly, our dear Bybit, lord of digital exchanges, found itself thoroughly plundered to the tune of $1.4 billion, a shocking theft allegedly orchestrated by the cyber brigands of North Korea. But lo and behold! Like a phoenix from the digital ashes, Bybit declared it had mended the gaping wound within a mere two days. Such agility! It must make the finest magicians weep with envy! 🎩✨
This remarkable feat of financial gymnastics involved a melange of loans, the generous largesse of whale deposits, and, naturally, an insatiable hunger for Ethereum (ETH) purchases—a veritable buffet of digital currency! According to our ever-vigilant blockchain sleuths at Lookonchain, Bybit acquired a staggering 157,660 ETH (around $437.8 million) from an entity, likely through the secretive back alleys of over-the-counter buying. Another 109,033 ETH ($304.1 million) materialized from an entity swinging between the centralized and decentralized exchanges, as if playing a game of hopscotch on the blockchain! 🦈💸
Latest Update: Bybit has already fully closed the ETH gap, new audited POR report will be published very soon to show that Bybit is again Back to 100% 1:1 on client assets through merkle tree, Stay tuned.
— Ben Zhou (@benbybit) February 24, 2025
Oh, the gallant giants of the sea, those whales and institutions, lent over $127 million in their noble ETH as loans! Bitget, the noble ally, provided a grand treasure of 40,000 ETH ($106 million), while MEXC contributed 12,653 stETH ($33.9 million) in proof of goodwill. Like chivalric knights, another mysterious benefactor plopped down 22,609 ETH ($61.9 million) into the cooperative cauldron of recovery.
But wait, there’s more! An enigmatic entity transfered 20,000 ETH ($53.7 million), whilst Mirana Ventures threw their lot in with 10,000 ETH ($28 million). Other shadowy figures, possibly affiliated with Fenbushi Capital, echoed this benevolence with an equal contribution. A couple of small fry added their two cents—“@yuchao” and DWF Labs, with 2,499 ETH and 2,200 ETH, respectively—because even the minnows matter, right? 🐟💚
In a fit of digital self-congratulation following the Lookonchain’s illustrious announcement, Bybit’s very own captain, Ben Zhou, took to X to proclaim the triumphant news that the treacherous ETH gap had been vanquished! He hinted at an upcoming audited proof-of-reserves report like a magician teasing the audience—“Stay tuned, my subjects!” he declared, promising to unveil the sorcery of a 100% 1:1 client asset representation through the mystical merkle tree. 🎉🌳
Alas, could this farce be so simple? Scribblings of the blockchain investigator ZachXBT reveal a more complex web—direct on-chain ties between the Bybit calamity and a recent breach at Phemex. The attackers, like a writer pulling strings amidst chaos, merged funds from both incidents using the same dastardly addresses, echoing the infamous antics of the North Korea-backed Lazarus Group—a real plot twist worthy of any epic tale! 📖✨
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2025-02-24 10:03