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.

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.

The crypto industry is rallying to recover funds stolen in the $1.5 billion Bybit hack, with exchanges freezing nearly $43 million just two days after the attack.