Bybit Suffers $1.5 Billion Cryptocurrency Hack, Largest in History

Hackers exploited a vulnerability in Bybit's Ethereum cold wallet, stealing 400,000 ETH in a sophisticated cyberattack.

The cryptocurrency exchange Bybit announced a historic $1.5 billion theft of Ethereum, marking the largest cryptocurrency hack to date.
Hackers targeted Bybit's Ethereum cold wallet, manipulating its multi-signature interface to divert funds to an unknown address.
Bybit CEO Ben Zhou assured users that the platform remains solvent and all other wallets are secure, with withdrawals fully operational.
The attack has raised concerns over the security of cold wallets, which are typically considered safer due to their offline storage.
Investigations are ongoing, with speculation pointing to the notorious Lazarus Group, linked to previous high-profile cryptocurrency thefts.