Crypto exchange Bybit reported a security breach, potentially resulting in a loss of almost $1.5 billion in tokens, making it potentially the largest theft in the cryptocurrency industry’s history. While Bybit CEO Ben Zhou announced the hack on X, confirming unauthorized access to an offline Ethereum wallet, specific details on the stolen assets are still being investigated. Early analysis suggests that approximately $1.46 billion in assets were moved from the compromised wallet through suspicious transactions. Researchers suspect North Korean hackers are likely behind the attack. The incident underscores the ongoing security challenges faced by cryptocurrency exchanges in safeguarding users’ funds and the increasing sophistication of cyber threats in the digital asset space.
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Bybit Hit by Crypto’s Worst Hack With Almost $1.5 Billion Stolen
Crypto exchange Bybit reported a security breach, potentially resulting in a loss of almost $1.5 billion in tokens, making it potentially the largest theft in the cryptocurrency industry’s history. While Bybit CEO Ben Zhou announced the hack on X, confirming unauthorized access to an offline Ethereum wallet, specific details on the stolen assets are still being investigated. Early analysis suggests that approximately $1.46 billion in assets were moved from the compromised wallet through suspicious transactions. Researchers suspect North Korean hackers are likely behind the attack. The incident underscores the ongoing security challenges faced by cryptocurrency exchanges in safeguarding users’ funds and the increasing sophistication of cyber threats in the digital asset space.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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