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Bybit Sees Over $4 Billion ‘Bank Run’ After Crypto’s Biggest Hack

The exchange, facing a bank run and needing to process withdrawals, worked to secure a loan and developed new software to access frozen funds.

By Francisco Rodrigues|Edited by Aoyon Ashraf

Updated Feb 22, 2025, 8:28 p.m. Published Feb 22, 2025, 7:56 p.m.

Bybit CEO Ben Zhou (Danny Nelson/ CoinDesk)