Bybit has returned to a 1:1 backing of client assets and has fully closed the “ether gap” it faced after an unprecedented $1.4 billion hack hit the exchange late Friday.

Bybit has fallen victim today to one of the largest crypto hacks ever recorded, with hackers reportedly stealing over $1.4 billion worth of ETH.

The crypto industry is rallying to recover funds stolen in the $1.5 billion Bybit hack, with exchanges freezing nearly $43 million just two days after the attack. A coordinated effort among centralized and decentralized platforms has led to the swift blacklisting of hacker-linked addresses,