Crypto exchange Bitget has transferred 40,000 ether (ETH), worth $105 million, to Bybit, offering crucial support to its industry counterpart in the wake of the over billion-dollar hack suffered by the exchange.
The funds transferred are from Bitget’s own reserves, not user deposits, which remain securely stored on the platform and can be cross checked through the proof of reserves, the exchange’s CEO, Gracy Chen, said in a note shared with CoinDesk, while assuring more support if needed.
STORY CONTINUES BELOW
Don’t miss another story.Subscribe to the Crypto for Advisors Newsletter today. See all newsletters svg]:max-w-[theme(spacing.8)] transition-transform-colors-opacity motion-reduce:transition-none text-default-foreground data-[hover=true]:opacity-hover w-full md:w-auto bg-new-yellow” type=”button”>
Trending: Kash Patel Is Already Making Huge Changes at the FBI
Sign me up
By signing up, you will receive emails about
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!