Summary
- Bybit CEO Ben Zhou announced that they have no immediate plans to purchase Ethereum and will receive bridge loans through partners.
- He stated that they have secured 80% of the stolen Ethereum and have sufficient funds, making the bank run not problematic.
- While supporting user withdrawals, processing times are longer due to increased traffic, and large withdrawals require risk verification.
According to crypto media Wublockchain on the 21st (local time), Bybit CEO Ben Zhou stated during a hack-related live broadcast that "we have no immediate plans to purchase Ethereum (ETH)" and added that "we will receive bridge loans through partners."
He continued, "We have secured 80% of the stolen Ethereum" and explained that "while we are experiencing a bank run, it's not a problem. We have sufficient funds."
Furthermore, he added, "We are supporting all Bybit users to withdraw their funds," noting that "however, due to traffic being 100 times higher than usual, processing times are taking longer. Large withdrawals require some risk verification."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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