tl;dr
Bybit's CEO assures customers that the firm can fulfill all withdrawal requests after a cyber attack resulted in the theft of $1.4 billion worth of Ethereum and stETH. The attack is described as the largest theft in history by a Coinbase executive. Bybit CEO Ben Zhou confirms over 350,000 withdrawal...
Bybit's CEO, Ben Zhou, has assured customers that the firm can fulfill all withdrawal requests following a cyber attack resulting in the theft of $1.4 billion worth of Ethereum and stETH. This attack has been labeled as the largest theft in history by a Coinbase executive.
Zhou confirmed over 350,000 withdrawal requests following the incident and emphasized that the exchange is solvent and able to cover the loss. He later announced that all withdrawal requests have been processed without major issues and pledged to provide a detailed incident report and security measures in the coming days.
According to Coinbase executive Conor Grogan, the attack on Bybit is the biggest theft in recorded history, and Zhou, on social media, reiterated that the exchange witnessed over 350,000 withdrawal requests soon after the attack as customers took measures to protect their funds. Zhou also highlighted the firm's solvency, stating, "Bybit is solvent... all client assets are 1 to 1 backed, and we can cover the loss."
In an update, Zhou confirmed that Bybit had managed to process all withdrawal requests without major issues and assured customers that the withdrawal system is now fully back to normal pace with no delays. He also expressed gratitude to clients, friends, and partners for their support during the incident.
Source: Based on the reported information