"Today's hack was massive and hit the industry hard," said Hacken, Bybit's partner Web3 auditor, in a Proof of Reserve update. "But Bybit's reserves still exceed its liabilities. As its independent Proof of Reserve (PoR) auditor, we have confirmed that user funds are still fully backed. This means Bybit has sufficient reserves to cover all user assets, solvency remains unchanged, and security and transparency remain top priorities." Then Bybit CEO Ben replied, "Hacken conducted an audit of our finances, which can prove that we can use our own finances to cover the loss of customers."