
Bybit CEO Assures Crypto Exchange Is Solvent, with All User Assets Backed 1:1 After ‘Biggest Heist Ever’
The CEO of the cryptocurrency exchange Bybit has reassured customers that the company is capable of fulfilling all withdrawal requests after facing a significant cybersecurity breach. This breach resulted in the theft of $1.4 billion worth of Ethereum and stETH from Bybit’s cold wallet. Described by Coinbase executive Conor Grogan as the largest theft in…