'Worst hack in history' as $1.5bn in cryptocurrency stolen
undefined 25, 2025
The Dubai-based Bybit exchange reported a massive hack, with attackers gaining control of an Ethereum wallet and stealing $1.5 billion worth of cryptocurrency. The breach occurred during a routine transfer of Ethereum from the company's offline wallet to its "warm" wallet. Bybit assured users that no other wallets were affected, and withdrawals continued as usual. The company’s CEO, Ben Zhou, stated that all client assets were backed one-to-one, and Bybit could cover the loss. This theft highlights growing concerns over the security of the cryptocurrency industry, especially as hackers increasingly target human vulnerabilities like phishing.
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