At Bitget, we strongly believe in supporting the community and those contributing to the growth of crypto. The largest crypto hack in the industry recently targeted Bybit.

In response, our systems have blacklisted the hacker’s wallets, ensuring that any transactions originating from illicit addresses are blocked once identified.

Our security team and researchers are actively monitoring these activities, and if we uncover any significant findings, we will share a comprehensive analysis of the incident and discuss preventive measures for the industry.

To assist Bybit in handling the situation, Bitget has transferred 40,000 ETH (approximately $105 million) to the exchange.

Transaction Details:
View on Etherscan

These funds come directly from Bitget’s reserves, provided as a goodwill gesture to support the broader crypto community.

All Bitget user funds remain securely stored on our platform, and users can verify their holdings through our Proof of Reserve.

Bybit has already processed 99% of withdrawals on its platform. As a respected competitor and partner, we acknowledge the significant impact of this loss, which equates to roughly one year’s profit for the exchange.

We will continue to monitor the situation, and if Bybit requires further support, we remain ready to assist.

Gracy Chen’s Statement on X
Further Update on X

Gracy Chen, CEO at Bitget