The Bybit exchange expressed deep gratitude to crypto industry firms and executives for lending a helping hand in the wake of a $1.4 billion hack on the centralized exchange platform.
Bybit CEO Ben Zhou thanked Antalpha Global, Bitget, Pionex, MEXC, SoSoValue, Galaxy Digital, FalconX, Lido Finance, the Solana Foundation, the Ton Foundation, Ghaf Capital, Fenbushi, Bitvavo, and Tether for their support during the crisis.
In a separate Feb. 22 announcement, Zhou expressed gratitude for the outpouring of support in the wake of the single biggest hack in crypto history. The CEO added:
“Within 24 hours of the event, we were overwhelmed with support from some of the best people and organizations in the industry, and we do not take it for granted. We have shared in a dark moment of crypto history.”
“We have proven we are better than the malicious actors,” the CEO continued — thanking the industry for its unity.
The response from crypto firms highlights the solidarity in the industry, which set aside business competition and came together to support a leading company in a time of crisis.
Bybit CEO Ben Zhou thanks the crypto industry for all its support. Source: Ben Zhou
Related: Lazarus Group moves funds to multiple wallets as Bybit offers bounty
Industry comes together to support one of its own
In a Feb. 22 X spaces event, Bitget CEO Gracy Chen said that Bitget was the first firm to loan the Bybit exchange Ether (ETH) and added that Bybit would have done the same for Bitget in a similar situation.
Chen also told Cointelegraph that it blacklisted wallets associated with the threat actors and that Bitget would block any transactions coming from the offending wallets.
In a Feb. 21 X post, Crypto.com CEO Kris Marszalek directed the company’s cybersecurity team to reach out to Bybit to offer assistance to the centralized exchange.
Hacken, Bybit’s independent proof-of-reserves auditor, confirmed that Bybit’s reserves exceed its liabilities despite more than $5.3 billion in withdrawals in response to the high-profile hack.
“As [Bybit’s] independent PoR auditor, we’ve confirmed that user funds remain fully backed,” the auditing firm said in a Feb. 21 X post.
Industry executives have lavished Bybit and CEO Ben Zhou with praise for offering a masterclass in crisis management and demonstrating leadership amid the historic hack.
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