Bybit Suffers $1.46 Billion Crypto Heist in Largest Ever Hack
2025-02-21
Cryptocurrency exchange Bybit has been hit with a massive $1.46 billion crypto heist, according to blockchain investigator ZachXBT. Hackers gained control of a Bybit ETH cold wallet, transferring approximately $1.1 billion worth of ETH and other tokens to a new wallet. The hackers are now liquidating assets on decentralized exchanges, having already sold around $200 million in stETH. Bybit CEO Ben Zhou confirmed the security breach, assuring users that other cold wallets remain secure. This incident is potentially the largest cryptocurrency hack in history, causing BTC and ETH prices to drop.