🚀 Pi Network: The Future of Cryptocurrency – Start Mining for FREE with Our Referral Link! 🔥

Pi Network is changing the way people mine cryptocurrency! Earn Pi coins for free directly from your smartphone with no investment needed. Join millions worldwide and be part of the next big crypto revolution! Sign up with our referral link to boost your mining rate and secure your financial future.

Bybit Hack: The Biggest Crypto Theft in History, $1.5 Billion Ethereum Vanished

Major Cyberattack on Bybit

Dubai-based leading cryptocurrency exchange Bybit has suffered a massive cyberattack, resulting in the theft of 401,000 Ethereum (ETH). This amounts to approximately $1.5 billion, making it one of the largest crypto hacks in history.

How Did the Attack Happen?

Bybit confirmed in an official statement that during a routine transfer, hackers manipulated Ethereum wallets. The attackers gained control over Bybit’s offline Ethereum wallet (cold wallet) and transferred the funds to an unknown wallet address.

Are Customer Funds Safe?

Bybit’s CEO Ben Zhou assured users that the company has enough reserves to cover the loss. He confirmed that all customer funds remain safe, and withdrawal operations continue without disruption.

Who is Behind This Attack?

Blockchain forensic firms Arkham Intelligence and Elliptic suggest that the North Korean-backed hacking group Lazarus might be responsible for the attack. This group has previously been linked to major cyber heists in the crypto sector.

Steps Taken by Bybit

Successfully processed over 350,000 withdrawal requests.
Collaborating with blockchain experts to track and recover stolen funds.
Upgrading security protocols and strengthening the exchange’s security infrastructure.
Working with government and cybercrime agencies to investigate and capture the attackers.

Impact on the Crypto Market

Following this major hack, the crypto market experienced significant turmoil. Bybit has witnessed over $5.5 billion in total outflows, as users transfer their funds to safer platforms amid security concerns.

What Should Bybit Users Do?

If you are a Bybit user, take these precautionary measures:
✅ Enable Two-Factor Authentication (2FA).
✅ Check and adjust your withdrawal limits as needed.
✅ Use a secure hardware wallet to store your funds safely.
✅ Stay updated on Bybit security updates and cyber threats.

Conclusion

This Bybit hack could be the biggest crypto attack of 2025. Despite the massive loss, the company has reassured users that their funds remain secure. This incident highlights the importance of strong security measures for crypto investors.