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Crypto exchange Bybit says it was hacked and lost around $1.4B
Crypto exchange Bitby disclosed a breach that that amounts to a loss of $1.4 billion, the largest crypto theft of all time.
Crypto exchange Bybit announced on Friday that “a sophisticated attack” led to the theft of ethereum (ETH) from one of the company’s offline wallets. Bybit’s chief executive and co-founder Ben Zhou said in a livestream that the hackers stole around 401,346 ETH, which at the time of the theft amounts to about $1.4 billion. Bybit, which is based in Dubai, United Arab Emirates, had an estimated total assets of $16 billion as of last week, according to CoinMarketCap.
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