A major cryptocurrency exchange, Bybit, reported being the victim of a sophisticated hack that resulted in the theft of approximately $1.5 billion worth of digital currency, marking one of the largest online thefts in history. The company stated that a routine transfer of Ethereum, one of the most popular cryptocurrencies, between digital wallets was manipulated by an attacker who transferred the crypto to an unidentified address.
Bybit reassured its customers that their cryptocurrency holdings with the exchange remain secure. However, the news of the hack led to a surge in withdrawal requests, which may cause delays in processing them. Ben Zhou, Bybit’s CEO, stated on social media that the company would remain solvent even if the stolen crypto isn’t recovered.
“We can cover the loss,” he said.
— news from The Associated Press