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Crypto exchange Bitget has sent 40,000 ether (ETH), valued at $105 million, to Bybit, providing essential assistance to its fellow exchange following the hack that resulted in a loss exceeding a billion dollars.
The transferred funds come from Bitget’s own reserves, not from user deposits, which remain safely secured on the platform. These deposits can be verified via the exchange’s proof of reserves, as noted by Bitget’s CEO, Gracy Chen, who also pledged further support if necessary
