Bybit Recoupts $40 Million ETH Loan From Bitget Following Crypto Hack

Following a major Ethereum ($ETH) hack that resulted in losses totaling over $1.4 billion, Bybit has begun the process of recouping funds. They’ve transferred nearly $100 million worth of ETH to Bitget, one of the exchanges that provided loans after the incident. These funds were part of a larger initiative where Bybit utilized various strategies to cover customer withdrawals and stabilize their operations in the aftermath of the hack.