Bybit Reports Theft to Authorities, Collaborates with On-Chain Analytics to Safeguard ETH

On February 22nd, COINOTAG News reported that Bybit, a prominent crypto exchange, has taken decisive measures regarding a recent theft. The company has officially notified relevant authorities about the incident and aims to ensure transparency by committing to provide updates as more information becomes available. Concurrently, Bybit is collaborating extensively with leading on-chain analytics firms to pinpoint all addresses implicated in the theft. These proactive efforts are designed to disrupt the operations of bad actors attempting to liquidate stolen Ethereum (ETH) through legitimate market channels. By tightening the grip on these liquidation routes, Bybit is not only safeguarding its platform but also reinforcing the integrity of the crypto ecosystem as a whole, reflecting a strong stance against illicit activities within the cryptocurrency space.