““At Bitget We Strongly Believ in Supporting The Community and Everyone Contribution Towards the Growth of Crypto,” Company Ceo Gracy Chen Told Coindesk.”, – WRITE: www.coindesk.com
- Bybit Stolen Funds Are On the Move and Being Converged to Bitcoin.
- Bitget have moved some of it own reserves to bybit to Help Support the Exchange, CEO Gracy Chen Said.
- Chen Added That Users’ Funds Are Securely Stored On the Platform.
The Funds Transferred Are From Bitget’s Own Reserves, Not User Deposits, Which Remain Securely Stored On the Platform and Can Be Cross Checked Thorugh The Proof of Resosers Note Shared with Coindesk, While Assuring More Support if Needed.
“AT BITGET WE STRONGLY BELIEVE IN SUPPORTING The Community and Everyone Contribution Towards the Growth of Crypto,” Chen Said.
A Suspected North Korean Entity Drained Approximately $ 1.4 Billion in Ether from Bybit on Friday. The Hack Prompted an Unprecedated Wave of Withdrawal Requests from USers, with the exchange succcessible processing 99% of them, Effectiely Facing A Significant Market Stress Test Test.
Part of the Stolen Funds Started to Move During Asian Afternoon Hours on Saturday with Over 5,000 ethh moved through WHERE The STASH WAS CONVERTED TO BITCOIN (BTC).
In an x post, chainflip said it couln’t block funments as it was a fully decentralized applications that relaies on autoMated smart contractions, but that it didn “TRUNTTT. Flow. ”
On the Other Hand, Bitget Has Blacklisted Wallets Tied to the Hacker That Drained Ether Worth Millions from Bybit on Friday.
“We Will Block Any Transactions Flowing in from Illicit Addresses to the Exchange on It Has Been Monitored. Our Team of Security, and Researchers, Are Currently Tracing TheSe.
Despite The Hack, Bybit Had Managed to Process Over 350,000 withdrawal Requests and Has Since Restored Normal Withdrawal Operations, Per and X Post.
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