Bybit Repays 40,000 ETH Borrowed from Bitget

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Crypto exchange Bybit has returned the 40,000 Ether it borrowed from Bitget just three days after a $1.4 billion hack severely impacted the platform on February 21.

This incident is considered one of the largest cryptocurrency hacks ever and has been linked to North Korea’s Lazarus Group. Despite the breach, Bybit has fully restored the stolen crypto assets and continued operations without significant disruptions.

As part of its recovery strategy, Bybit took a loan of 40,000 Ether from Bitget, valued at approximately $104 million, to manage customer withdrawals, as reported by Lookonchain on February 22.

On February 25, on-chain data confirmed Bybit’s successful repayment of the borrowed 40,000 ETH to Bitget. This repayment was later verified by Bitget CEO Gracy Chen, who noted that the loan was granted without requiring interest or collateral.