Bybit Recovers $600M in Ethereum from Mirana Ventures

Bybit, one of the world’s leading crypto exchanges, has received a $600 million Ethereum (ETH) injection from Mirana Ventures in response to a devastating $1.5 billion security breach.

Azcnews Breaking Bybit Recovers $600m In Ethereum From Mirana Ventures

The exchange, which suffered a major hack resulting in the loss of ETH-based tokens, has now regained a significant portion of its holdings. Mirana Ventures, closely tied to Bybit’s co-founders, played a pivotal role in replenishing these assets by acquiring and transferring Ethereum.

Bybit Hack Update: $600M ETH Restored to Mitigate Losses

In the wake of a $1.5 billion crypto heist, Bybit has secured $600 million in ETH deposits from Mirana Ventures, helping to stabilize its financial standing. This capital injection aims to offset the losses and restore confidence in the exchange’s operations.

According to Arkham Intelligence, Mirana Ventures sourced the Ethereum by liquidating $500 million in Bitcoin (BTC) and $100 million in Tether (USDT). These transactions were executed through leading over-the-counter (OTC) trading platforms, including FalconX, Galaxy Digital, and Wintermute. The strategic liquidation provided the liquidity necessary to shore up Bybit’s reserves without causing major market disruptions.

Arkham On X
Arkham On X

To safeguard customer assets and maintain withdrawal capabilities, Bybit had previously secured a bridge loan. However, with the fresh ETH deposits from Mirana Ventures, withdrawal demand has eased, signaling improved liquidity conditions for the exchange.

Mirana Ventures Leads ETH Recovery Effort Post-Hack

Mirana Ventures played a critical role in replenishing Bybit’s depleted ETH reserves. Backed by Bybit’s co-founders, the firm facilitated the acquisition and transfer of Ethereum over three days, making it the largest ETH depositor since the attack.

To amass the required funds, Mirana Ventures sold off substantial BTC and USDT holdings through multiple OTC trading firms. This careful maneuver ensured a smooth asset transfer without triggering market volatility.

While Bybit has yet to fully recover from the staggering $1.5 billion loss, the substantial ETH injection has reinforced its financial stability. The move not only strengthens Bybit’s position but also underscores Mirana Ventures’ commitment to supporting the exchange during one of its most challenging crises.

(2 votes)

3.0/5

(2 votes)

Latest

Whales Withdraw Massive Link Holdings, Is A Major Price Surge Coming

News | Altcoin | Editor Choice

Whales Withdraw Massive LINK Holdings, Is a Major Price Surge Coming?

Chainlink (LINK) is entering a decisive phase as a series of on-chain and derivatives data point to growing buying pressure, setting the stage for a potential strong breakout in the days ahead.

Trump Family’s Bitcoin Firm Soars 10% After Major Btc Purchase

News | Bitcoin | Editor Choice

Trump Family’s Bitcoin Firm Soars 10% After Major BTC Purchase

American Bitcoin, a cryptocurrency mining firm founded by the Trump family, has sparked investor excitement after its stock jumped 10% following the purchase of over 1,400 Bitcoin, raising its total holdings to nearly $4.5 million.

X402 Token Surpasses $800 Million Market Cap After Launch On Bnb Chain

News | Altcoin | Editor Choice

x402 Token Surpasses $800 Million Market Cap After Launch on BNB Chain

Just one day after launching its new version on BNB Chain, the x402 ecosystem stunned the market as its market capitalization soared past $800 million, marking a remarkable milestone for the web-based payment protocol developed by Coinbase.

4 U.s. Economic Events Set To Strongly Impact The Crypto Market This Week

News | Editor Choice | Policy & Regulations

4 U.S. Economic Events Set to Strongly Impact the Crypto Market This Week

This week, global investors are holding their breath as a series of major U.S. economic events approach — developments that could determine the direction of financial markets and trigger sharp volatility in Bitcoin and other cryptocurrencies.

Ethereum Surges Again As Supply Becomes Increasingly Scarce

News | Altcoin | Editor Choice

Ethereum Surges Again as Supply Becomes Increasingly Scarce

Ethereum is entering a phase of supply scarcity as hundreds of thousands of ETH are withdrawn from Binance, fueling expectations of a powerful price breakout in the near future.

Screenshot 2025 10 20 091338