Crypto Exchange Bybit Fully Closes Ethereum Gap, According to Updated Proof of Reserves Report
Bybit’s chief executive says the firm has now fully closed the Ethereum gap after hackers stole nearly $1.5 billion worth of ETH and Lido Staked Ether (stETH) from the crypto exchange last week.
Bybit CEO Ben Zhou says the exchange has restored a 1:1 backing on all client assets after the record-setting hack.
Zhou’s claims are echoed in a proof-of-reserves audit report published by the blockchain security auditor Hacken on Sunday.
“The Hacken team’s Proof of Reserves audit, conducted on Sunday, February 23, 2025, demonstrates that Bybit maintains an in-scope reserve ratio of > 100 %. This finding signifies that Bybit possesses sufficient reserves to cover its in-scope liabilities, thereby bolstering trust and…
