Summary: Bybit, a major cryptocurrency exchange, was targeted in a cyberattack resulting in the theft of approximately .5 billion worth of digital currency. The attack exploited vulnerabilities to gain access to the ETH Cold Wallet, transferring over 400,000 ETH and stETH to an unknown address. Despite the incident, Bybit assured users of the safety of their funds and its ability to cover the loss.
Affected: Bybit Cryptocurrency Exchange
Keypoints :
- Hackers stole .5 billion worth of digital assets from Bybit through a sophisticated cyberattack.
- More than 400,000 ETH and stETH were transferred to an unidentified wallet.
- Bybit’s CEO claimed the exchange remains solvent and can cover the loss with sufficient assets.
- Increased criminal activity in cryptocurrency is noted as trends show a 20% rise in losses in 2024.
Source: https://www.securityweek.com/bybit-hack-drains-1-5-billion-from-cryptocurrency-exchange/
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