Crypto exchange Bybit reported a security breach, potentially resulting in a loss of almost $1.5 billion in tokens, making it potentially the largest theft in the cryptocurrency industry’s history. While Bybit CEO Ben Zhou announced the hack on X, confirming unauthorized access to an offline Ethereum wallet, specific details on the stolen assets are still being investigated. Early analysis suggests that approximately $1.46 billion in assets were moved from the compromised wallet through suspicious transactions. Researchers suspect North Korean hackers are likely behind the attack. The incident underscores the ongoing security challenges faced by cryptocurrency exchanges in safeguarding users’ funds and the increasing sophistication of cyber threats in the digital asset space.
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