Leading crypto exchange Bybit has received over 88,000 ETH from exchanges like Bitget and Binance since yesterday as withdrawal heightens.
In the past 24 hours, Bybit has received crypto loans from prominent exchanges to fund withdrawal requests. Multiple sources, citing Arkham, confirmed that it has received over 88,000 ETH ($239 million) from Bitget and Binance addresses.
Notably, these funds will enhance Bybit’s liquidity amid growing customer withdrawals. The exchange confirmed that users are massively moving funds from the exchange following its recent $1.46 billion hack.
Exchanges Support Bybit in Turbulent Times
Notably, Arkham data shows that Bitget transferred 40,000 ETH ($106 million), a quarter of all its Ethereum holdings, to the Bybit Cold Wallet on Feb. 21 at exactly 19:44 (UTC). Market intelligence firm Lookonchain suggested that the exchange shifted the funds to Bybit to provide more liquidity to support customer…
