Crypto exchange Bybit has been hit by a massive hack resulting in losses of almost $1.5 billion, according to analysts. A hacker gained control of one of the exchange’s offline Ethereum wallets and transferred an estimated $1.4-1.6 billion worth of tokens out of it. The stolen funds were then moved to new addresses where they are being sold. Bybit’s CEO Ben Zhou confirmed the incident in a post on X, stating that the hacker took control of one of the exchange’s offline wallets.
Source: https://www.bloomberg.com/news/articles/2025-02-21/bybit-says-exchange-wallet-hacked-1-5-billion-estimated-loss