Cryptocurrency theft of £1.1bn could be biggest ever

Category: Cryptocurrency

Hackers stole $1.5bn (£1.1bn) from cryptocurrency firm Bybit, marking potentially the largest crypto theft in history. The theft involved the exploitation of security features in Bybit's Ethereum wallet, leading to a 4% drop in Ethereum's value. Bybit's founder assured users that their funds are safe and that the company can cover the loss. The incident has raised concerns about the security of cryptocurrencies, which are often criticized for their speculative nature.

Keywords: Cryptocurrency theft, Bybit, Ethereum

Source: BBC News

Update At: 2/22/2025

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