# Bybit incident response **URL:** \ **Category:** SteakHouse Financial\ **Created:** [February 21, 2025, 6:37pm UTC](https://forum.morpho.org/t/bybit-incident-response/1544 "2025-02-21T18:37:04Z")\ **Posts on this page:** 1\ **Page:** 1
**Author:** ![Steakhouse](https://dub1.discourse-cdn.com/flex013/user_avatar/forum.morpho.org/steakhouse/32/158_2.png) [@Steakhouse](https://forum.morpho.org/u/Steakhouse)\ **Post date:** [February 21, 2025, 6:37pm UTC](https://forum.morpho.org/t/bybit-incident-response/1544/1 "2025-02-21T18:37:04Z")
At 2:16pm UTC, Bybit was [hacked for circa 400k ETH](https://etherscan.io/tx/0xb61413c495fdad6114a7aa863a00b2e3c28945979a10885b12b30316ea9f072c) and [90k stETH](https://etherscan.io/tx/0xa284a1bc4c7e0379c924c73fcea1067068635507254b03ebbbd3f4e222c1fae0). At 3:49pm UTC, following price deviations in secondary markets (related or not to the incident), bbqUSDC automatically [reallocated](https://etherscan.io/tx/0x5a5bef44c52ab8353bc1abd7b7376810edcbd4373e6d34b66d94a402c3345aab) funds, reducing exposure to Ethena-related collateral in order to protect the lenders. At 3:51pm UTC, Bybit [announced](https://x.com/Bybit_Official/status/1892965292931702929) that they had been hacked. At 3:53 PM UTC, we established a war room to assess the impact of the Bybit hack. Our focus quickly turned to perpetuals basis trade products, such as USDe and USR, which could have exposure to Bybit. These products are utilized in certain Smokehouse product line vaults. No Steakhouse product line vaults are exposed to these collaterals. At 4:16pm UTC, Ethena [posted](https://x.com/ethena_labs/status/1892971552565805309?s=46) that their current exposure to Bybit was limited. ![](https://europe1.discourse-cdn.com/flex013/uploads/morpho/original/1X/a8e01c8a8287b67ade677553490eceaeb4a0499d.png) At 4:25pm UTC, Resolv [posted](https://x.com/ResolvLabs/status/1892973970108153961) that they have no exposure to Bybit At 5:12pm UTC, Ethena [posted](https://x.com/ethena_labs/status/1892985747806003385) that they had no more PnL exposure to Bybit. Exposure is now stabilized in bbqUSDC. We are actively monitoring the situation.