Crypto Hack: Bybit Breach Sets Record

Bybit Hack: Largest Internet Breach with Swift Recovery

• The Bybit hack is identified as the largest in internet history.
• Only 7.50% of Bybit’s $20 billion managed funds were stolen.
• Bybit restored its cryptocurrency reserves to a 1:1 ratio within 72 hours post-attack.
• Storing cryptocurrencies via ETFs is considered the safest method by experts.
• Crypto assets underlying ETPs are stored with licensed custodians, reducing exchange risks.

The Bybit hack, deemed the largest in internet history, resulted in the theft of only a small fraction (7.50%) of their managed funds. Remarkably, Bybit restored its reserves within three days, demonstrating resilience and effective crisis management.