Hackers steal $1.5 billion from Bybit in record-breaking crypto heist: What we know so far | Technology News
Bybit, a Dubai-based cryptocurrency exchange, confirmed on Friday, February 21, that it was a victim of a hack resulting in the theft of digital assets worth over $1.5 billion – making it the largest crypto heist to date.
Hackers reportedly targeted Bybit’s cold wallet, an offline system for secure storage of cryptocurrencies and encryption keys. They stole tokens that were primarily in ether, transferred them to multiple wallets, and used various platforms to liquidate them.
Ethereum is the second most valuable cryptocurrency after Bitcoin. Following the hack, the value of Ethereum dropped by 4 per cent to over $2,641.41 per coin, according to a report by BBC.
Fearing that the crypto…
