In the wake of a significant security breach, cryptocurrency exchange Bybit has received substantial inflows of XRP tokens, leading to discussions about potential liquidity support through loans. On February 24, 2025, Whale Alert, a blockchain tracking service, reported a transfer of 51,999,999 XRP (approximately $128.78 million) from an unidentified wallet to Bybit. 51,999,999 #XRP (128,782,393 USD) transferred from unknown wallet to #Bybit https://t.co/4C8SlWy76u — Whale Alert (@whale_alert) February 24, 2025 This significant movement of funds follows a similar transaction a few days prior, where 40 million XRP were sent to Bybit from an unknown source. Watcher Guru reported shortly after the 40 million XRP transfer that ByBit was receiving loans to cover withdrawals from its platform, and the recent 51.9 million tokens transfer has reignited discussions in the community about potential loan arrangements aimed at bolstering the exchange’s liquidity. Bybit’s Security Breach On February 21, 2025, Bybit experienced a sophisticated cyberattack that compromised its Ethereum (ETH) cold wallet, resulting in the loss of approximately $1.46 billion worth of ETH. The attackers employed a technique known as “musked UI,” deceiving authorized signers into approving a malicious transaction that altered the smart contract logic of the wallet. This manipulation granted the attackers control over the funds, transferred to an unknown address. Despite the severity of the breach, Bybit’s CEO, Ben Zhou, reassured users that the exchange remains solvent and that all client assets are fully backed. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 He emphasized that unaffected wallets and withdrawal processes operate normally, but the whale transactions suggest ByBit may need help fulfilling withdrawals. Is the Crypto World Helping ByBit? Whale movements are common in the XRP ecosystem. The reasons behind these transactions could be internal fund movements within exchanges, token accumulation by large investors, sell-offs, and so much more. However, this case is peculiar because of ByBit’s recent misfortune. While the exact intent behind the transfers remains unconfirmed, such large inflows are often interpreted as strategic moves by whales, and the timing of these transactions suggests ByBit may be receiving help from these whales. Bybit’s Response and Recovery Efforts In response to the breach, Bybit has implemented several measures to enhance security and recover the stolen assets. The exchange announced a bounty program, offering 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. 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 X , Facebook , Telegram , and Google News The post 51.9 Million XRP Moved to ByBit Sparks Another Loan Speculation appeared first on Times Tabloid .
