Bybit said it successfully navigated the biggest cryptocurrency heist ever recorded, in which hackers stole about $1.5B in digital assets from the crypto exchange's ethereum cold wallet. Hackers stole over 400,

Dubai-based exchange Bybit has fallen victim to a monumental security breach, resulting in the theft of approximately $1.5 billion worth of digital as

Bybit, a major cryptocurrency exchange, has been hacked to the tune of $1.5 billion in digital assets, in what’s estimated to be the largest crypto heist in history.

Bybit hackers are currently engaged in the second stage of laundering, which involves “layering” the stolen funds to conceal the transaction trail, says Elliptic.

Bybit has returned to a 1:1 backing of client assets and has fully closed the “ether gap” it faced after an unprecedented $1.4 billion hack hit the exchange late Friday.

As part of the investigation and recovery efforts, Bybit is pledging 10% of recovered funds to reward ethical cyber and network security experts who play an active role in retrieving the stolen cryptocurrencies in the incident.

Hackers stole about $1.5bn in crypto tokens from Bybit, in a heist the digital asset exchange described as the biggest theft to hit the industry. Ethereum coins were been taken from Bybit’s offline or “cold” wallet, the exchange’s chief executive Ben Zhou said in a post on X.

Bybit replenished its $1.5 billion deficit within three days following the most significant crypto hack in history. The gap was filled using a combination of