Bybit loses nearly $1.5 billion in worst crypto hack—What we know so far

Cryptocurrency exchange Bybit announced that one of its Ethereum cold wallets was compromised. An attacker managed to transfer approximately $1.5 billion worth of assets to an unidentified address, triggering widespread concern in the crypto community.

Bybit confirms breach

Bybit CEO Ben Zhou confirmed the security breach on Friday, stating that only one ether wallet was affected. All other wallets remain secure, and withdrawals continue to function normally. “All client funds are safe, and our operations continue as usual without any disruption,” the company assured users in a statement.