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.

"All client funds are safe, and our operations continue as usual without any disruption," the company said, adding its security team, along with forensic experts, was investigating the incident

Bybit, one of the world’s largest cryptocurrency exchanges, experienced a hack Friday in which over $1.4 billion worth of crypto was stolen, according to blockchain-analytics firms. It’s the latest incident for an industry struggling with security concerns that present hurdles to mainstream adoption.