Following a $1.5 billion hack, the digital currency exchange BitBit recovered part of its lost assets by receiving $600 million worth of Ethereum from Mirana Ventures. Mirana Ventures, associated with BitBit founders, obtained this Ethereum by selling $500 million worth of Bitcoin and $100 million worth of Tether through FalconX, Galaxy Digital, and Wintermute companies. This capital injection helped stabilize BitBit’s Ethereum reserves after the cyber attack. BitBit had previously secured a bridge loan to protect customer assets and enable withdrawals. After depositing this amount, the withdrawal speed decreased, indicating an improvement in the exchange’s liquidity. Investigations have identified the North Korean Lazarus hacker group as the perpetrators of this attack. Ben Zhou, BitBit’s CEO, reassured users that the exchange has fully recovered customers’ assets on a 1:1 basis and has now resumed normal operations.
