Major Cryptocurrency Exchange Bybit Suffers $1.5 Billion Hack
Bybit, a leading cryptocurrency exchange, has reported a sophisticated hack that resulted in the theft of approximately $1.5 billion in digital currency. The incident, which occurred during a routine Ethereum transfer, involved the manipulation of digital wallets and the transfer of cryptocurrency to an unknown address.
Despite the theft, Bybit emphasized that its customers' cryptocurrency holdings on the platform remain secure. However, the company acknowledged the surge in withdrawal requests following the announcement of the hack and advised customers that there may be delays in processing.
Bybit CEO Ben Zhou took to social media to assure stakeholders that the company remains financially stable, even in the event that the stolen cryptocurrency is not recovered. "We can cover the loss," he stated.
The theft of cryptocurrency has become a prevalent method for hackers, with North Korean state-sponsored actors implicating in numerous high-profile crypto heists in recent years. Notably, the FBI, Department of Defense, and National Police Agency of Japan jointly attributed the $308 million theft from a Japanese crypto firm in December to North Korean hackers.