On February 21, 2025, the cryptocurrency exchange Bybit faced a significant security breach, leading to the theft of approximately $1.4 billion in Ethereum (ETH) and related tokens. This incident marks one of the largest hacks in cryptocurrency history, raising alarms about security protocols within digital asset management.
Overview of the Attack
The breach was first detected by blockchain investigator ZachXBT, who reported unusual outflows from Bybit’s wallets. The attack involved a sophisticated manipulation of a transaction that transferred funds from a multisignature cold wallet to a warm wallet. The hacker exploited vulnerabilities in the smart contract logic, allowing them to gain control over the cold wallet and siphon off significant amounts of cryptocurrency.
Read More : https://onthenode.com/cryptocurrency/the-bybit-hack-a-1-4-billion-breach-shakes-the-cryptocurrency-world
Overview of the Attack
The breach was first detected by blockchain investigator ZachXBT, who reported unusual outflows from Bybit’s wallets. The attack involved a sophisticated manipulation of a transaction that transferred funds from a multisignature cold wallet to a warm wallet. The hacker exploited vulnerabilities in the smart contract logic, allowing them to gain control over the cold wallet and siphon off significant amounts of cryptocurrency.
Read More : https://onthenode.com/cryptocurrency/the-bybit-hack-a-1-4-billion-breach-shakes-the-cryptocurrency-world
| 65,000 mlx | |
| 60 | |
| 10 |
IT WAS DRAINED FROM ONE WALLET AND THE HACKERS ARE CURRENTLY BRIDGING THE STOLEN ETH TO SOL CHAIN
