Hackers steal $1.5 billion from exchange Bybit in biggest-ever crypto heist

Category: Cryptocurrency

Bybit, a major cryptocurrency exchange, suffered a $1.5 billion hack, the largest in crypto history, compromising its cold wallet. The stolen ether was quickly moved and liquidated. CEO Ben Zhou reassured users that other wallets are secure and that withdrawals are normal. The attack is linked to North Korea's Lazarus Group, known for exploiting vulnerabilities in the crypto sector. Bybit secured a bridge loan to cover losses and stabilize operations amidst user withdrawals.

Keywords: Bybit, cryptocurrency hack, Lazarus Group

Source: CNBC

Update At: 2/22/2025

Related Sources

MAGA Price Prediction: MAGA (TRUMP) Token Set to Skyrocket in Q3 2024! Will MAGA Tokens Make You 10X Filthy Rich by September?

MAGA (TRUMP) token, inspired by Donald Trump's slogan, shows potential for growth in 2024. The Ethereum-based meme coin focuses on charity and marketing efforts. Market analysts predict bullish trajectory for TRUMP. Recent surges linked to Trump's pro-crypto comments. Technical analysis suggests positive performance in 2024. TRUMP's price influenced by burning program, demand, and market dynamics.

Coinfomania

Trump To Announce His VP Elect: MAGA VP ($MVP) Token Primed to Soar Alongside Bitcoin (BTC) and Solana (SOL) | NewsBTC

Former President Donald Trump is about to name his Vice President elect, causing ripples in political and crypto sectors. The MAGA VP ($MVP) token gains attention with analysts forecasting a rise to $2.2. Trump's announcement is expected to drive interest and investment in $MVP, available on major exchanges and Uniswap.

NewsBTC

Bitcoin Snaps Correlation With S&P 500: What Does That Indicate?

Bitcoin's correlation with the S&P 500 has seemingly ended as Bitcoin rallies while the S&P 500 declines. Factors such as U.S. government considerations on chip exports to China and Trump's remarks on Bitcoin's potential as a strategic reserve have contributed to this shift. Investors may start viewing Bitcoin as a new safe-haven asset, while Ethereum's future status remains uncertain despite potential ETF inflows.

Investing.com

Top 3 Presales That Will Outperform Solana (SOL) In 2024: ETFSwap (ETFS), Moonbag (MBAG), And DTX Exchange (DTX)

ETFSwap (ETFS), Moonbag (MBAG), and DTX Exchange (DTX) are emerging crypto tokens expected to outperform Solana (SOL) in 2024. ETFSwap offers a DeFi platform integrating blockchain and ETFs with a focus on security and privacy. Moonbag simplifies investment in diverse cryptocurrencies through a single token, emphasizing yield farming and staking. DTX Exchange aims to innovate the traditional exchange model with strong security and a variety of trading tools. Each project is gaining traction in the crypto community, with presales attracting significant interest.

Analytics Insight

Donald Trump’s Crypto Flip-Flop Began With Flattering NFTs

Donald Trump has shifted his stance on cryptocurrency, previously criticizing it as a scam, to now expressing support for Bitcoin at the Bitcoin 2024 conference, stating he wants America to lead in the crypto space.

Bloomberg

What’s going on with Ethereum’s addresses? Taking a closer look

Ethereum's daily active addresses have decreased to around 395,000, following a peak of over 700,000 in June. This decline suggests a slowdown in network activity, with sellers dominating trading as more ETH is moved to exchanges, indicating a readiness to sell. The price of Ethereum has also declined by over 1.4%, marking a bearish trend.

AMBCrypto

Bitcoin Rout Worsens - Altcoins Collapse

Bitcoin's value has dropped below $60,000, hitting a low of $54,640 amid a market-wide sell-off influenced by global economic factors and disappointing U.S. job reports. Despite the downturn, Bitcoin whales remain optimistic, accumulating more Bitcoin. The market faces uncertainty with upcoming Federal Reserve interest rate adjustments and political developments surrounding the U.S. presidential election, which could impact cryptocurrency regulations.

Brave New Coin

XRP Lawsuit Update Today: Here's How the Ripple vs. SEC Lawsuit Ended and Its Impact on XRP Price

A federal judge ruled that XRP is not a security, marking a significant victory for Ripple and the XRP community. While some sales were deemed unregistered securities offerings, the court imposed a $125 million penalty on Ripple, much lower than the SEC's original demand. This ruling provides clarity in cryptocurrency regulation and could influence future digital asset classifications, although the SEC may appeal the decision.

Coinpedia

Ripple CEO Hails Court Ruling in Case Brought by SEC

Ripple Labs was ordered to pay a $125 million civil penalty by a federal judge in a case with the SEC regarding the sale of its XRP token to institutional investors. The SEC initially sought $2 billion, but the court significantly reduced this amount. Ripple's CEO called the ruling a victory for the company and the XRP community, emphasizing the need for regulatory clarity in the cryptocurrency industry. Following the ruling, XRP's value increased by 25%.

pymnts.com

XRP Price Rallies 25%: Can This Breakout Continue?

Crypto analyst Doctor Magic highlights three reasons for investors to consider purchasing XRP at this time.

newsbtc.com