Bybit faced a major crisis after a $1.5 billion hack, which caused a $5.2 billion drop in reserves in just one day. Despite this setback, the exchange acted quickly. They secured $172.5 million in emergency loans and kept operations running without freezing withdrawals.DeFiLlama reported that Bybit’s reserves fell sharply as over 350,000 withdrawal requests came in. However, the exchange still holds more than $11.4 billion in assets. CEO Ben Zhou…
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