Bybit Repaid $104 Million Ethereum Loan Amidst Major Crypto Heist

Cryptocurrency exchange Bybit has fully repaid a significant loan of 40,000 Ether to rival exchange Bitget after recovering from a devastating $1.4 billion hack. The repayment, valued at approximately $104 million, was confirmed on-chain on February 25th, demonstrating Bybit’s quick response to one of the largest cryptocurrency thefts in history. 40,000 ETH was borrowed from Bitget without collateral or interest, a gesture reflecting industry solidarity from Bitget CEO Gracy Chen.