Bybit CEO Confirms Exchange Was Hacked for $1.46B, Says His Firm Can Cover The Loss

Cryptocurrency exchange Bybit has experienced $1.46 billion worth of "suspicious outflows," according to blockchain sleuth ZachXBT. From a report: The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan 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 specific ETH cold wallet and transferred all the ETH in the cold wallet to this unidentified address." Read more of this story at Slashdot.

Feb 21, 2025 - 19:27

Bybit CEO Confirms Exchange Was Hacked for $1.46B, Says His Firm Can Cover The Loss

Cryptocurrency exchange Bybit has experienced $1.46 billion worth of "suspicious outflows," according to blockchain sleuth ZachXBT. From a report: The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan 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 specific ETH cold wallet and transferred all the ETH in the cold wallet to this unidentified address."