How Bybit was Hit by Record-Breaking $1.5B Hack!
History just got rewritten. On February 21, 2025, @Bybit_Official experienced the LARGEST crypto heist EVER, with a staggering $1.4-$1.5 BILLION in ETH and stETH stolen!
The hackers targeted a supposedly secure Ethereum cold wallet, exploiting multi-sig vulnerabilities and manipulating smart contracts, disguising the theft as a legit transfer. All eyes are on the infamous Lazarus Group (North Korea), known for their sophisticated cyberattacks. Over 400,000 ETH and stETH vanished.
Bybit's CEO @BenZhouBybit assures users funds are safe, with bridge loans secured and investigations underway. They're working with experts to trace and recover the stolen assets.
This massive breach is a stark reminder: even "secure" systems have weaknesses. It raises HUGE questions about crypto security and the need for stronger safeguards.
The question is, how do will best secure our asset.
