Bybit Faces Unprecedented Industry Response A major cryptocurrency exchange, Bybit, has suffered a massive security breach, leading to the theft of approximately $1.5 billion worth of Ethereum. The incident took place late Friday evening when hackers exploited a routine transfer of funds from a secure offline wallet to a daily-use wallet.

The Dubai-based platform Bybit said an attacker gained control of an Ethereum wallet and transferred its holdings to an unknown address.

Over 400,000 ETH and stETH worth more than $1.5 billion were stolen from the Bybit cryptocurrency exchange. Cryptocurrency exchange Bybit on Friday said a cyberattack allowed hackers to steal roughly $1.5 billion worth of digital currency.

Cryptocurrency exchange Bybit successfully covered its $1.46 billion loss from a recent hacker attack through a combination of loans, whale

British blockchain analytics firm Elliptic, which traced the stolen crypto, said North Korea's Lazarus Group was behind the hack. Lookonchain, another analytics firm, said Bybit secured around 446,870 ETH (~$1.23B) since the hack through loans, whale deposits, and purchases.

Bybit CEO Ben Zhou is considering all possible options to recover the $1.4 billion stolen in the largest crypto hack in history, including a

Bybit’s $1.4 billion hack, the largest in crypto history, might have unexpected implications for Ethereum. As the exchange moves to recover, could this be a bullish catalyst for ETH? Ether has time and time again failed to reach the new high’s the market has longed for after a new crypto-friendly administration under President Trump,