In the latest Bybit hack update, the popular crypto exchange received $600 million in ETH from Mirana Ventures after losing $1.5 billion in ETH-based assets. These investments aim to recover the losses and bring back the lost ETH assets.

Mirana Ventures obtained this ETH by selling $500 million in Bitcoin (BTC) and $100 million in Tether (USDT). Following the investments, withdrawal requests increased, and liquidity issues were resolved.

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Mirana Ventures’ ETH Investment Provides Support After the Hack

Mirana Ventures played a key role in replenishing Bybit’s lost ETH reserves. The ETH was purchased through various OTC firms and transferred to Bybit. Mirana Ventures became Bybit‘s largest investor after investing ETH over three days.

The hack is believed to have been carried out by the North Korean hacker group Lazarus Group. The attackers used advanced malware to breach Bybit‘s security and moved ETH to multiple addresses. Authorities are continuing to track the movement of the stolen funds.

Bybit’s Response and Future Measures

Bybit took swift action to close security gaps and protect user funds. Thanks to the investments from Mirana Ventures, the exchange stabilized its ETH reserves. Withdrawal requests decreased, and operations have returned to normal.

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USD Services Are Back!

Binance.US has resumed USD services, which will gradually roll out to all eligible customers in the coming days. You can now deposit USD by linking a bank account, purchase crypto via bank transfer (ACH), and trade on USD pairs.

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USD Services and Features

Binance.US has resumed USD services starting February 19, 2025. You can now deposit and withdraw USD by linking a bank account, with zero fees. Additionally, you can buy and sell crypto using bank transfers (ACH), and convert instantly between USD and crypto.

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USD trading pairs are available. Initially, BTC/USD, XLM/USD, DOGE/USD, SOL/USD, ETH/USD, ADA/USD, HBAR/USD, SHIB/USD, SUI/USD, and BNB/USD pairs will be available.

In addition, Binance.US users can earn rewards by staking Proof-of-Stake cryptocurrencies. Small balances under $20 can be converted to BNB, BTC, ETH, or USDT. You can also send, request, and receive crypto directly to and from your Binance.US wallet. Furthermore, large transactions up to $10,000 can be placed through the OTC trading portal.

Binance.US offers multiple features to make crypto trading easier. Creating a new account is simple, and you can buy your first crypto in just two minutes.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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