*Bybit Recovers from $1.4 Billion Hack* Cryptocurrency exchange Bybit has successfully recovered from a recent hacker attack that resulted in a loss of $1.46 billion. According to blockchain data from Lookonchain, Bybit covered the loss through a combination of loans, whale deposits, and Ethereum purchases. *Recovery Breakdown* Bybit received: - 157,660 ETH ($437.8 million) from one address - 109,033 ETH ($304.1 million) from an entity that bought ETH from centralized and decentralized exchanges - Over $127 million in ETH as loans from whales and institutions, including Bitget and MEXC *CEO Announcement* Bybit CEO Ben Zhou announced on X that the exchange has "fully closed the ETH gap" and will publish a new audited proof-of-reserves report soon. *Investigation Links* Anonymous blockchain investigator ZachXBT found direct on-chain links between the Bybit hack and the recent Phemex breach, suggesting a possible connection to the North Korea-backed Lazarus Group. *Market Impact* Bybit's purchase of $742 million worth of Ethereum has caused the ETH price to recover by 6% from the previous week's drop.