In simpler terms, the hacked ether supply is likely lost permanently. Furthermore, Bybit, which has reportedly secured a bridged loan from unnamed partners to cover nearly 80% of the ether lost in the Friday hack, will likely need to purchase coins in the market.

There has been another crypto heist and this time, it's the biggest one in history. Here's everything you need to know about the Ethereum theft.

The cryptocurrency market took a hit after Bybit suffered what is now the largest hack in industry history, with over $1.46 billion in Ethereum (ETH) and staked Ethereum (stETH) drained from the exchange.