Bybit Repays 100K ETH, Buys 212K ETH Amid Recovery

• Bybit has repaid 100K ETH to partners, with 33K ETH still pending.
• The exchange purchased 212,101 ETH worth $574M via OTC.
• These actions strengthen Bybit’s market position and recovery.

Bybit, a leading cryptocurrency exchange, has taken significant steps toward financial recovery after a recent security breach. The platform announced that it has returned 100,000 ETH to partners who supported it during the incident. However, around 33,000 ETH remains to be repaid, highlighting that the process is still ongoing.

Bybit’s prompt action in repaying partners showcases its commitment to maintaining trust within the crypto community. The exchange aims to fully settle the remaining balance as part of its post-hack recovery strategy.

Bybit’s Massive OTC ETH Purchase

In a bold move, Bybit has also acquired a substantial amount of Ethereum through over-the-counter (OTC) transactions. Over the past three days, the exchange purchased 212,101 ETH, valued at approximately $574 million. This large acquisition suggests confidence in Ethereum’s long-term potential and stability.

OTC purchases help avoid market slippage, ensuring minimal impact on ETH’s price. Bybit’s investment indicates its strategic positioning and strong financial standing despite the recent hack.

⚡️ NEW: Bybit has returned 100,000 $ETH to partners who supported the exchange during the hack, with around 33,000 $ETH still to be repaid.

Additionally, Bybit purchased a total of 212,101 ETH ($574M) via OTC over the past three days. pic.twitter.com/ZAH2y7C8jT

— Cointelegraph (@Cointelegraph) February 25, 2025

Strengthening Market Confidence

Bybit’s quick repayment plan and aggressive ETH accumulation demonstrate resilience and reinforce its market presence. The exchange continues to rebuild confidence among users, partners, and the broader crypto ecosystem.

These moves reflect Bybit’s ability to navigate crises effectively while securing its position as a top crypto exchange.