Bybit's Reserves Remain Intact Despite Major Cyber Attack

According to Foresight News, Web3 auditing firm Hacken, in collaboration with Bybit, has released an update on proof of reserves following a significant cyber attack that has severely impacted the industry. Despite the attack, Bybit's reserves continue to exceed its liabilities. As Bybit's independent proof of reserves auditor, Hacken has confirmed that user funds remain fully backed. This indicates that Bybit has sufficient reserves to cover all user assets, maintaining solvency while prioritizing security and transparency. In response, Bybit CEO Ben stated that Hacken's audit of their finances demonstrates their ability to cover customer losses with their own financial resources.