Cryptocurrency exchange Bybit CEO Ben Zhou speaks at a live press conference following the hack that resulted in the loss of more than $1.46 billion in assets.
The information here will be updated as the press conference continues, you can access the latest information by refreshing the page.
Here's what Zhou said:
- Bybit’s treasury is capable of covering the hack losses of 400K ETH (approximately $10 billion).
- We are not purchasing ETH; we are considering a bridge loan from partners, 80% of which is already secured, to cover stolen funds.
- We have already processed 70% of withdrawals, the peak of the bank run is over, large withdrawals go through regular security review process, we continue to work on the rest of the withdrawals in the next few hours. All our customers' withdrawals will be processed.
- All products and services continue as usual. We will not be suspending withdrawals at this time and are still processing withdrawals.
*This is not investment advice.
