Bybit Returns Over $114 Million to Whale After Major Security Breach

Blockchain analytics firm Lookonchain confirmed that cryptocurrency exchange Bybit has returned approximately 47,800 ETH, worth around $114 million, to a whale or institution following a security breach last week. This transfer follows the theft of 401,346 ETH, valued at over $1 billion, from the platform’s cold wallet which was targeted in a sophisticated attack that exploited multi-signature (multi-sig) logic.