Hackers steal $1.5bn from crypto exchange Bybit in biggest-ever heist
Theft deals blow to an industry that has been reinvigorated by Donald Trump’s re-election Ethereum coins were stolen from Bybit’s offline or ‘cold’ wallet In a significant security breach, Dubai-based cryptocurrency exchange Bybit has reported the theft of approximately $1.5 billion worth of Ethereum. The incident occurred during a routine transfer from a cold wallet to a warm wallet, where attackers manipulated the transaction interface, gaining control over the cold wallet and transferring its contents to an unknown address. Hackers have stolen approximately $1.5 billion in crypto tokens from Bybit in what the exchange has called the largest theft in the industry’s history. Bybit’s CEO, Ben Zhou, revealed on X that Ethereum coins were drained from the exchange’s offline “cold” wallet. In a live-stream update, he stated, “As far as we know, this could be the largest hack in the history of our industry.” Bybit's CEO, Ben Zhou, has assured clients that the exchange remains solvent,...