Crypto exchange Bybit confirms hack as over $1.4 billion worth of ETH leaves wallets
Name
Crypto exchange Bybit confirms hack as over $1.4 billion worth of ETH leaves wallets
Description
CoinDesk details the confirmation of the hack by Bybit’s CEO, Ben Zhou, who explained that a malicious transaction, using a “masked” URL to alter smart contract logic, resulted in the loss of over $1.4 billion in ETH and related tokens. The article reassure that other wallets remain secure.
Publish date
7:54am, Friday, February 21, 2025
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Bybit has confirmed a hack as over $1.4 billion in ETH‑related tokens drained in a major security breach
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Bybit is Solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss," Zhou also posted
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This resulted Hacker took control of the specific ETH cold wallet we signed and transferred all ETH in the cold wallet to this unidentified address
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