PANews reported on February 22 that according to Theblock, Bybit co-founder and CEO Ben Zhou said that after the $1.4 billion hack, all customer withdrawals will be processed. The company will not buy Ethereum, but will rely on bridge loans (a short-term loan used to help entities transition) from partners. "In fact, we have obtained nearly 80% of the stolen Ethereum as a bridge loan to provide us with liquidity and help us solve liquidity crunch problems so that we can get through this critical period."

The news comes after Bybit confirmed it had lost $1.4 billion after hackers breached its multi-signature cold wallets, in what one expert called the “largest cryptocurrency theft ever.”

Earlier news, 39,998 ETH was transferred from BitGet to Bybit. Coinbase director Conor Grogan tweeted that Binance and Bitget will deposit more than 50,000 ETH directly into Bybit's cold wallet, of which Bitget's deposit is 1/4 of all ETH on the exchange.