Cryptocurrency exchange says it was victim of $1.5 billion hack

[Eugene]

Source: Associated Press

Cryptocurrency exchange says it was victim of $1.5 billion hack

By ASSOCIATED PRESS
Updated 8:55 PM EST, February 21, 2025

A major cryptocurrency exchange says it was the victim of a sophisticated hack that stole about $1.5 billion worth of digital currency, marking one of the biggest online thefts of all time.

Bybit said Friday 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.

The company sought to reassure customers that their cryptocurrency holdings with the exchange were safe. The company added that news of the hack had led to a surge in withdrawal requests and there could be delays in processing them.

Ben Zhou, Bybit’s CEO, said on social media that his company would remain solvent even if the hacked crypto wasn’t recovered.

“We can cover the loss,” he said.

-snip-

Read more: https://apnews.com/article/bybit-exchange-crypto-hack-88256366c723a9de8327ef3d4071057e

[RainCaster]

1. they can cover a $1.5B loss?

I smell BS.

[surfered]

2. Sure, crypto is just as safe as the dollar

[Skittles]

9. it is ridiculous

[bucolic_frolic]

3. It's all safe! Foolproof! More secure than flying, driving, or US debt! Except for

the run on the crypto exchange when everyone wants their money because someone stole it all.

[Lovie777]

4. shithole musk?....

what say you.

[Wonder Why]

5. Just makes me drool thinking of all the money I'm going to make on trump's crypto.

[Klarkashton]

6. Insider job?

[surfered]

7. Maybe DOGE employees. They were hackers

[Klarkashton]

8. Could have been any number of nihilist goobers

That are involved in that shit. No fucking way would I put a nickel into that bullshit.

[LonePirate]

10. Considering how crypto is touted as exceptionally secure, it sure does seem to fall victim to a lot of hacks.

Inside jobs, perhaps?