Crypto Exchange Bybit Reports Hack, Analysts Estimate $1.5 Billion Loss

Category: Cryptocurrency

Bybit reported a cyberattack resulting in the theft of nearly $1.5 billion worth of tokens, marking one of the largest incidents in crypto history. The attacker gained access to Bybit's Ethereum cold wallet during a transfer. Despite the loss, Bybit assured users that all other cold wallets are secure and client funds are safe. The exchange continues to process withdrawal requests and remains solvent.

Keywords: Bybit, cyberattack, cryptocurrency theft

Source: pymnts.com

Update At: 2/22/2025

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