Bitget supported Bybit with ethers after the hack

The Bitget cryptocurrency exchange transferred 40,000 ETH worth $105 million to the Bybit platform, which was subjected to a hacker attack and lost 400,000 ETH. This was reported by the Bits.media portal.

The platform hopes to help its competitor exchange stabilize its liquidity. Bitget CEO Gracy Chen stated that the exchange respects Bybit both as a competitor and a partner, and, as a sign of support, transferred ethers from its own funds to Bybit "in the interests of the crypto space."

"We firmly believe in supporting the crypto community and all its members who contribute to the development of cryptocurrencies. Recently, Bybit was hacked, and it became the largest hack in the history of the market," Chen stated.

Earlier, crypto detective ZachXBT reported that as a result of the hacker attack, Bybit lost over $1.46 billion from accounts. The platform's CEO, Ben Zhou, confirmed the information about the hack.