Market intelligence platform CryptoQuant says that the Ethereum (ETH<\/a>) reserves of Bybit are recuperating after the crypto exchange was hacked to the tune of $1.4 billion.<\/p>\n In a new thread on the social media platform X, Julio Moreno \u2013 CryptoQuant\u2019s head of research \u2013 says<\/a> that Bybit is seeing inflows worth over $390 million in ETH.<\/p>\n \u201cBybit\u2019s ETH reserves are slowly recovering. The exchange has experienced positive net flows of 139,000 ETH since the hack.\u201d<\/em><\/p>\n Previous reports indicate<\/a> that the Singapore-based exchange suffered the biggest exploit in the digital assets industry when a bad actor took control of its ETH cold wallet, which stores keys offline.<\/p>\n According to recent data from the blockchain tracker Lookonchain, Bybit\u2019s rapid recovery of ETH is being aided<\/a> by other digital asset firms as well as crypto whales.<\/p>\n \u201cSince being hacked, Bybit has received 145,879 ETH ($390 million) in loans and deposits. Whales withdrew 47,800 ETH ($127.56 million) from Binance to Bybit as loans. <\/em><\/p>\n Bitget transferred 40,000 ETH ($106 million) to Bybit as loans. Whale \u20180x3275\u2019 transferred 20,000 ETH ($53.7 million) to Bybit as loans. <\/em><\/p>\n [The crypto exchange] MEXC transferred 12,652 stETH ($33.74 million) to Bybit as loans. <\/em><\/p>\n Whale \u20180xd7CF’\u201d bought 15,427 ETH ($42.2 million) from CEXs (centralized exchanges) and DEXs (decentralized exchanges), then deposited it to Bybit. <\/em><\/p>\n A wallet suspected to be Fenbushi Capital deposited 10,000 ETH ($27 million) to Bybit.\u201d<\/em><\/p>\n Furthermore, Lookonchain finds<\/a> that Bybit itself purchased $197 million ETH via over-the-counter transactions.<\/p>\n Ethereum is trading for $2,808 at time of writing, a 1.5% increase during the last 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE3<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Market intelligence platform CryptoQuant says that the Ethereum (ETH) reserves of Bybit are recuperating after the crypto exchange was hacked to the tune of $1.4 billion. In a new thread on the social media platform X, Julio Moreno \u2013 CryptoQuant\u2019s head of research \u2013 says that Bybit is seeing inflows worth over $390 million in […]<\/p>\n","protected":false},"author":2,"featured_media":327342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-374316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/374316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=374316"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/374316\/revisions"}],"predecessor-version":[{"id":374321,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/374316\/revisions\/374321"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/327342"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=374316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=374316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=374316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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