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Bybit loses nearly $1.5 billion in worst crypto hack—What we know so far
Cryptocurrency exchange Bybit announced that one of its Ethereum cold wallets was compromised. An attacker managed to transfer approximately $1.5 billion worth of assets to an unidentified address, triggering widespread concern in the crypto community.
Bybit confirms breach
Bybit CEO Ben Zhou confirmed the security breach on Friday, stating that only one ether wallet was affected. All other wallets remain secure, and withdrawals continue to function normally. “All client funds are safe, and our operations continue as usual without any disruption,” the company assured users in a statement. Bybit, which serves over 60 million users globally, emphasised that it remains solvent and has the necessary reserves to cover the loss.
North Korean hackers suspected
Blockchain researchers and security analysts suspect North Korean hackers may be responsible for the attack. On-chain analyst ZachXBT and research firm Arkham Intelligence reported that the stolen funds have started moving to new addresses, where they are being liquidated.
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