Bybit lost about $1.5 billion worth of digital currency in the sophisticated hack, one of the biggest online thefts of all time.
A prominent cryptocurrency exchange has reported that it fell victim to a sophisticated breach that resulted in the theft of approximately $1.5 billion worth of digital currency, making it one of the largest online thefts in history.
Bybit disclosed on Friday that an attacker had “manipulated” a regular Ethereum transfer, diverting the cryptocurrency to an undisclosed address.
Despite the security breach, the exchange tried to reassure its users that their digital assets within the platform remained secure. However, due to the incident, there has been a significant increase in withdrawal requests, potentially causing delays in processing them.
Ben Zhou, Bybit’s CEO, said on social media that his company would remain solvent even if the hacked crypto wasn’t recovered.
“We can cover the loss,” he said.
Stealing cryptocurrencies is a favorite tactic of hackers. North Korean state hackers, in particular, have been linked to several high-dollar crypto thefts in recent years. In December, the FBI, the Defense Department and National Police Agency of Japan issued a joint statement blaming North Korean hackers for the theft of $308 million from a Japanese crypto firm.
