Outside Source
In a livestream, Bybit CEO stated that 70% of transactions have successfully gone through, though some users may experience delays due to network congestion.
Breaking news
Following the high-profile hack that left the Bybit exchange drained of $1.4 billion in ETH-related tokens, Bybit CEO Ben Zhou reassured customers that withdrawals are still open but may take several hours to process due to high congestion.
In a Feb. 21 livestream, Zhou said that the exchange currently has around 4,000 pending withdrawal transactions and asked for patience as the issue is resolved. The CEO added:
“We don’t have plans to suspend or cancel withdrawals. At the moment, we are still receiving all the withdrawal requests, and, in fact, 70% of them have been approved and processed. A lot of the network congestion is still there, so we’re processing them as fast as we can.”
The CEO also reassured customers that no other Bybit wallet was compromised in the security incident and added that the exchange is securing a bridge loan to continue operations while the issue is fully resolved.
Bybit CEO Ben Zhou addresses concerns in livestream. Source: Bybit
Many tokens took a hit around the time of the hack and have seen some rebounding, but prices are still lower post-hack, crypto research firm Nansen told Cointelegraph, adding that “ETH price action (started dropping after 15:00 CET. [It] took the biggest hit from 16:15 CET onward, dropping 4% in about 45 minutes.”
Update (date and time in UTC): This article has been updated to [insert the new info being presented.]
This article first appeared at Cointelegraph.com News
