Bybit Crypto Exchange Hacked for $1.4 Billion in Ethereum
- Bybit confirmed a hack resulting in the theft of over $1.4 billion worth of Ethereum (ETH) and stETH.
- The attack involved manipulation of a transaction from Bybit’s ETH multisig cold wallet to its warm wallet.
- CEO Ben Zhou stated that the hacker altered the smart contract logic, gaining control over the ETH cold wallet.
- Ethereum prices fell nearly 3% to $2,727 following news of the hack.
- The stolen funds are being split between 39 different addresses to obscure their trail.
Bybit reported unauthorized activity involving its ETH cold wallet, leading to a significant security breach. Despite this, CEO Ben Zhou assured that all client assets remain secure and fully backed.
Source (2.6)https://decrypt.co/307215/ethereum-bitcoin-fall-bybit-confirms-hack?rand=52368
