Amid the horror of a significant security breach, the embattled exchange Bybit has received a substantial infusion of XRP. Crypto influencer XRP Captain (@UniverseTwenty) highlighted a transaction involving the transfer of 40 million XRP from an unidentified wallet to Bybit. JUST IN 40 Million #XRP Transferred From Unknown Wallet To #Bybit Anonymous Whale Just Gave Loan To Bybit ( #XRP Liquidity ) pic.twitter.com/sP7lCzx5k6 — XRP CAPTAIN (@UniverseTwenty) February 21, 2025 This development follows a recent hack that resulted in the loss of $1.46 billion in digital assets from Bybit, marking one of the largest cryptocurrency thefts. Bybit’s Security Breach On February 21, 2025, Bybit experienced a sophisticated cyberattack leading to the theft of over 400,000 Ethereum tokens, valued at approximately $1.46 billion. This attack came shortly after ByBit took a major initiative by making its liquidation data accessible to the public . The attackers manipulated the smart contract interface, gaining control of one of Bybit’s cold wallets and transferring its contents to an unknown address. Despite the magnitude of the theft, Bybit’s CEO, Ben Zhou, assured users that the exchange remains solvent and that all client assets are fully backed. He emphasized that unaffected wallets and withdrawal processes continue to operate normally. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 The 40 Million XRP Transaction In the aftermath of the breach, a notable transaction was observed: 40 million XRP tokens were transferred from an unknown wallet to Bybit. While ByBit assured clients everything was fine, XRP Captain shared a screenshot of a report from Watcher Guru revealing that the exchange is accepting loans to cover withdrawals. While the purpose of this substantial transfer has not been officially disclosed, speculation within the community suggests that this influx of XRP is a loan to bolster Bybit’s liquidity following the recent security incident. Some community members took this further, with one commenter suggesting that this transfer was a loan from Ripple CEO Brad Garlinghouse. Another commenter claimed that Garlinghouse funded the $TRUMP token with $60 million, and argued that it was logical for him to support ByBit in this situation. Bybit’s Response and Recovery Efforts In response to the security breach, Bybit has initiated measures to recover the stolen assets and enhance its security framework. The exchange has announced a bounty program, pledging 10% of any recovered funds—potentially up to $140 million—to cybersecurity experts and blockchain analysts who assist in tracking and retrieving the stolen assets. While there has been no confirmation that the $40 million transfer was a loan, the transaction has drawn significant attention within the cryptocurrency community. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post 40 Million XRP Transferred to ByBit Sparks Loan Speculation appeared first on Times Tabloid .
