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Bybit Moves Fast: $742M ETH Purchase Follows $1.4B Hack—Damage Control?

Bitcoinist LogoBitcoinist12h ago

Bybit Moves Fast: $742M ETH Purchase Follows $1.4B Hack—Damage Control? - Bitcoinist

Quick Summary:

In a surprising turn of events, cryptocurrency exchange Bybit purchased around 266,700 ETH worth $742 million in just 48 hours.

Blockchain analytics company Lookonchain has kept an eye on this significant transaction following a disastrous $1.4 billion hack that sent shockwaves to the digital asset space.

According to Lookonchain, strategic ETH purchases, whale deposits, and loans have netted the exchange 446,870 ETH, or $1.23 billion, since the incident.

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Bybit Moves Fast: $742M ETH Purchase Follows $1.4B Hack—Damage Control? - Bitcoinist (Picture 1)

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-24 @ 13:00:49 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 34 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 26375457

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About Bitcoinist

Bitcoinist Logo

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 12 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #105

Publisher Details

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The story "Bybit Moves Fast: $742M ETH Purchase Follows $1.4B Hack—Damage Control?" has 410 words across 34 sentences, which will take approximately 2 - 4 minutes for the average person to read.

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The story "Bybit Moves Fast: $742M ETH Purchase Follows $1.4B Hack—Damage Control?" was covered 12 hours ago by Bitcoinist, a news publisher based in Hungary.

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Bitcoinist is a fully independent (privately-owned) news outlet established in 2014 that covers mostly crypto news.

The outlet is headquartered in Hungary and publishes an average of 12 news stories per day.

It's most recent story was published 9 hours ago.

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  • News ID: #26375457
  • URL: https://beamstart.com/news/bybit-moves-fast-742m-eth-17404025688363

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