Bybit has transferred Eth worth about $ 100 million back to BITGET. Bitgate gave a loan to 40,000 ETHs in a bibet immediately after $ 1.4 billion hack.
As data From Arkham Intelligence, Bittgate received 40,000 Ethereum (Ath) from a bibit cold wallet on 24 February, which was about $ 99.98 million at the time of transfer. Bitgate was one of the first exchanges in defense of Baibit, when after being lost in one of the largest crypto hacks of the $ 1.4 billion of the exchange of the exchange.
On-chain data suggests that the bitbit had previously moved the part of the atherium to a cold wallet before transferring to a cold wallet. In addition, the bybit was also transferred to 47,800 Eth ($ 118 million) to its cold wallet before the bitgate transfer.
Earlier today, bybit was also seen transferring 3,000 eths from a hot wallet at a price of $ 7.5 million.
At the press time, the atherium has reduced by about 9% in the last 24 hours. The second largest cryptocurrency by market cap is currently trading at $ 2,489. In the last few days, ETH has been running downwards, falling 7% in the previous week and decreased by over 25% in the last month.
Bybit road for recovery
As reported earlier by Crypto.news, bybit claimed that he had completely covered the loss of $ 1.4 billion in Ethereum Tokens suffering from hack. Whale deposits from various exchanges, including bybit bitget, were capable of closing the difference through eth procurement and loan.
A day after hack, on 22 February, bybit received a $ 172.5 million Etreum from separate crypto exchanges and firms to cover customer withdrawal. These loans included 40,000 ETHs from Bitt, 12,652 in Lido Stacked Ath (Stath), and 11,800 ETHs from Benance.
As bybit has started returning the loan from these exchanges, it may seem that it is already recovering from the damage four days after the incident. On 24 February, the CEO of Bybit said that the exchange will soon publish an audited plan-off-record report to show that the bibit is “100% 1: 1 on client assets.”
Despite rapid recovery, data Arakham Intelligence suggests that the buybit hacker, considered as the Lazarus Group, has started robbing the stolen funds. Hacker’s wallets are doing two to three transactions per minute, moving ETHs from one address to another.
