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Bybit loses $1.5B in hack but can cover loss, CEO confirms

news.ycombinator.com Unknown 2025-06-04 07:15:03

Cryptocurrency exchange Bybit has experienced $1.46 billion worth of "suspicious outflows," according to blockchain sleuth ZachXBT. The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far. Bybit CEO Ben Zhou wrote on X that a hacker "took control of the spe

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

cnbc.com Mackenzie Sigalos 2025-06-04 11:31:25

Ben Zhou, chief executive officer of ByBit, during the Token2049 conference in Singapore, on Thursday, Sept. 14, 2023. Bybit, a major cryptocurrency exchange, has been hacked to the tune of $1.5 billion in digital assets, in what's estimated to be the largest crypto heist in history. The attack compromised Bybit's cold wallet, an offline storage system designed for security. The stolen funds, primarily in ether , were quickly transferred across multiple wallets and liquidated through various p

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Bybit hacked for almost $1.5 billion in the biggest crypto theft ever

engadget.com Unknown 2025-06-04 10:22:48

While 20th-century heists involved scoping out a location, recruiting a person on the inside and having a daredevil getaway driver waiting outside, the 21st-century version looks more like what Bybit experienced today. A hacker stole nearly $1.5 billion in Ethereum (ETH) and staked Ethereum from one of the exchange's offline wallets, nabbing the largest cryptocurrency haul ever. One blockchain security expert said it's likely the all-time biggest heist of any kind, not just crypto. Bybit CEO Be

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Crypto exchange Bybit says it was hacked and lost around $1.4B

techcrunch.com Lorenzo Franceschi-Bicchierai 2025-06-04 08:00:33

Crypto exchange Bybit announced on Friday that “a sophisticated attack” led to the theft of Ethereum (ETH) from one of the company’s offline wallets. Bybit’s chief executive and co-founder Ben Zhou said in a livestream that the hackers stole around 401,346 ETH, which at the time of the theft amounts to about $1.4 billion. Both crypto security firm Elliptic, as well as crypto security researcher ZachXBT, the total amount of ETH stolen is worth around $1.4 billion, making this the largest known

Topics: according billion bybit crypto theft
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Hacker steals record $1.46 billion from Bybit ETH cold wallet

bleepingcomputer.com Unknown 2025-06-04 11:41:59

Cryptocurrency exchange Bybit revealed today that an unknown attacker stole over $1.46 billion worth of cryptocurrency from one of its ETH cold wallets. "The incident occurred when our ETH multisig cold wallet executed a transfer to our warm wallet. Unfortunately, this transaction was manipulated through a sophisticated attack that masked the signing interface, displaying the correct address while altering the underlying smart contract logic," Bybit explained. "As a result, the attacker was ab

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Bybit CEO Confirms Exchange Was Hacked for $1.46B

news.ycombinator.com Unknown 2025-06-04 12:15:03

Cryptocurrency exchange Bybit has experienced $1.46 billion worth of "suspicious outflows," according to blockchain sleuth ZachXBT. The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far. Bybit CEO Ben Zhou wrote on X that a hacker "took control of the spe

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Crypto exchange Bybit says it was hacked and lost around $1.4 billion

techcrunch.com Lorenzo Franceschi-Bicchierai 2025-06-04 13:00:33

Crypto exchange Bybit announced on Friday that “a sophisticated attack” led to the theft of ethereum (ETH) from one of the company’s offline wallets. Bybit’s chief executive and co-founder Ben Zhou said in a livestream that the hackers stole around 401,346 ETH, which at the time of the theft amounts to about $1.4 billion. Both crypto security firm Elliptic, as well as crypto security researcher ZachXBT, the total amount of ETH stolen is worth around $1.4 billion, making this the largest known

Topics: according billion bybit crypto theft
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