Bybit CEO Ben Zhou has announced the cryptocurrency exchange has fully restored the $1.4 billion in Ether that was stolen on February 21.
Zhou shared in a Feb. 24 post on X that a new audited proof-of-reserve report will soon be published to confirm that Bybit's customer assets have been restored to a 1:1 ratio using a Merkle tree check.
This announcement comes after blockchain analytics firm Lookonchain estimated that Bybit acquired 446,870 Ether - valued at approximately $1.23 billion - from loans, whale deposits and purchases.
This amount represents nearly 88% of the $1.4 billion stolen by the North Korean state-backed hacking group Lazarus on February 21.