Bybit CEO Ben Zhou confirmed in an X post on Monday that the exchange has 100% closed the reserve gap from its hack on Friday, where the North Korean Lazarus Group stole about $1.44 billion worth of ETH. The gap was closed through loans, whale deposits and over-the-counter (OTC) ETH purchases.

Ethereum (ETH) has fallen by 35% since December 2024. The Ethereum price follows an ascending support trend line. Can ETH bounce above the $2,500 support,

Ether ( ETH) price dropped 5% on Feb. 24, despite reports that crypto exchange Bybit acquired $740 million worth of ETH from the open market. Some traders expected a price rebound after the Feb. 21 hack, anticipating that Bybit’s purchases to cover losses would push prices higher. However, this scenario did not materialize.