February 22, 2025
Bybit Loses $ 1.5b in Hack But Can Cover Loss, CEO Confirms thumbnail
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Bybit Loses $ 1.5b in Hack But Can Cover Loss, CEO Confirms

A PORTION OF STAKED Ether is Currently Being Liquidated on Decentralized Exchanges.”, – WRITE: www.coindesk.com

A PORTION OF STAKED Ether is Currently Being Liquidated on Decentralized Exchanges.Updated Feb 21, 2025, 6:41 PM UTCPUBLISHED FEB 21, 2025, 3:34 PM UTC

Cryptocurrency Exchange Bybit Has ExperienCed $ 1.46 Billion Wertho of “Suspicious Outflows,” Account to Blockchain Sleuth Zachxbt.

The Wallet in Question Appears to Have Sent 401,346 ETH ($ 1.1 Billion) As Well As Several Other Iteners of Staged Ether (Steth) to a Fresh Wallet, WHICH is now Liquing. Ethercan Shows. The Wallet HAS SOLD AROUND $ 200 MILLION WORTH OF STETH SO FAR.

Bybit CEO Ben Zhou Wrote on X that A Hacker “Took Control of the Special Eth Cold Wallet and Transferred All The Eth in the Cold Wallet to this Unidentified Address.”

“PLEASE RESSURED THAT All Other Cold Wallets Are Secure. All Withdrawals Are Normal,” He Added.

“My Sources Confirm It’s A Security Incident,” Zachxbt Adeded On Telegram.

$ 1.46 Billion would equate to the largest cryptocurrency hack of all Time in Dollar terms, with $ 470 Million Being Lost in the Mt Gox Hack Exploit.

BTC and ETH DROPped More than 1.5% and 2%, Respectively, Following the Transfers.

Update (15:44 UTC, Feb. 21): Adds Quote from Bybit CEO and DETAILS OF HISTORICAL CRYPTO HOCSS.

Oliver KnightOliver Knight is the Co-LEADER OF COINDESK DATA TOKENS AND DATA TEAM. Before joining coindesk in 2022 Oliver Spen Three Years As the Chief Reporter at Coin Riveet. He First Started Investing in Bitcoin in 2013 and Spen A Period of His Career Working at A Market Making Firm in the UK. He does not currently have any crypto holdings.

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Oliver Knight

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