Bybit Faces Unprecedented Industry Response A major cryptocurrency exchange, Bybit, has suffered a massive security breach, leading to the theft of approximately $1.5 billion worth of Ethereum. The incident took place late Friday evening when hackers exploited a routine transfer of funds from a secure offline wallet to a daily-use wallet.

Experts warn that the $1.4 billion stolen in Bybit’s hack, allegedly tied to North Korea’s Lazarus Group, is likely to be laundered through mixers and cross-chain bridges.

The world's second-largest crypto exchange Bybit suffered an exploit Friday that saw it drained of about $1.4 billion worth of ethereum and staked ether.

Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

Major cryptocurrency exchange Bybit has seen total outflows of over $5.5 billion after it suffered a near $1.5 billion hack that saw hackers,

Bybit said it successfully navigated the biggest cryptocurrency heist ever recorded, in which hackers stole about $1.5B in digital assets from the crypto exchange's ethereum cold wallet. Hackers stole over 400,

The crypto industry is rallying to recover funds stolen in the $1.5 billion Bybit hack, with exchanges freezing nearly $43 million just two days after the attack. A coordinated effort among centralized and decentralized platforms has led to the swift blacklisting of hacker-linked addresses,

Bybit is a well-known cryptocurrency exchange with more than 60 million users. It’s regularly ranked among the top five cryptocurrency exchanges online by volume. The hack was disclosed on Feb. 21. The company said an attacker gained control of an Ethereum wallet and transferred the holdings in the wallet to an unknown address.