Bybit has returned to a 1:1 backing of client assets and has fully closed the “ether gap” it faced after an unprecedented $1.4 billion hack hit the exchange late Friday.

Bybit has fallen victim today to one of the largest crypto hacks ever recorded, with hackers reportedly stealing over $1.4 billion worth of ETH.

Leading cryptocurrency exchange Bybit has acquired Ethereum (ETH) tokens worth some $1.25 billion. The move comes as part of the company's recovery efforts after a devastating hack that saw it lose $1.4 billion, the largest crypto theft in history.