Hackers steal $1.5 billion from exchange Bybit in biggest-ever crypto heist
Bybit, a major cryptocurrency exchange, has been hit by the largest crypto heist in history.
Bybit, a major cryptocurrency exchange, has been hacked to the tune of $1.5 billion in digital assets, in what's estimated to be the largest crypto heist in history.
The attack compromised Bybit's cold wallet, an offline storage system designed for security. The stolen funds, primarily in ether, were quickly transferred across multiple wallets and liquidated through various platforms.
"Please rest assured that all other cold wallets are secure," Ben Zhou, CEO of Bybit, posted on X. "All withdrawals are NORMAL."
Blockchain analysis firms, including Elliptic and Arkham Intelligence, traced the stolen crypto as it was moved to various accounts and swiftly offloaded. The hack far surpasses previous thefts in the sector, according to Elliptic. That includes the $611 million stolen from Poly Network in 2021 and the $570 million worth of Binance's BNB token stolen in 2022.