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🔒 Hack Incident $ETH : Bybit Suffers a Major Hack 🔒
On February 21, 2025, the crypto world was shocked by the news of a major hack that hit Bybit, one of the world's largest crypto exchanges. Hackers managed to steal over $1.4 billion in Ethereum (ETH), making it one of the largest digital asset hacks in history.
The hackers used advanced social engineering techniques to take control of Bybit's multisignature cold wallet. They managed to manipulate the smart contract through the delegatecall function, allowing them to transfer all funds to an unknown address. From the outside, this transaction looked like a normal transfer, but it was actually a contract manipulation that allowed the hackers to take control of the funds.
Despite the huge loss, Bybit ensured that all user assets remained safe and withdrawals were still running normally. Bybit also confirmed that they remain financially healthy and have a strategy to overcome this incident.
What do you think about this incident? Are you worried about the security of your crypto assets?
On February 21, 2025, the crypto world was shocked by the news of a major hack that hit Bybit, one of the world's largest crypto exchanges. Hackers managed to steal over $1.4 billion in Ethereum (ETH), making it one of the largest digital asset hacks in history.
The hackers used advanced social engineering techniques to take control of Bybit's multisignature cold wallet. They managed to manipulate the smart contract through the delegatecall function, allowing them to transfer all funds to an unknown address. From the outside, this transaction looked like a normal transfer, but it was actually a contract manipulation that allowed the hackers to take control of the funds.
Despite the huge loss, Bybit ensured that all user assets remained safe and withdrawals were still running normally. Bybit also confirmed that they remain financially healthy and have a strategy to overcome this incident.
What do you think about this incident? Are you worried about the security of your crypto assets?
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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