Crypto Heist of the Century: Bybit Loses $1.5 Billion in Massive Hack.
Hackers have pulled off the largest cryptocurrency theft in history, draining $1.5 billion from Bybit's cold wallet. The Dubai-based exchange fell victim to a sophisticated attack, believed to be linked to North Korea’s Lazarus Group, that manipulated a routine Ethereum transfer.
Key pointers:
▧ 400,000 ETH stolen, worth approximately $1.5 billion
▧ Bybit CEO Ben Zhou assures users that funds are safe and the company remains solvent
▧ The hack triggered over 350,000 withdrawal requests, all processed successfully
Despite the unprecedented scale of the theft, Bybit claims to have sufficient assets to cover the loss, with AUM exceeding $20 billion.
This incident surpasses previous crypto heists, including the $620 million Ronin Network theft in 2022.
Follow us to stay up to date with tech news!