#brekingnews Bybit, a prominent cryptocurrency exchange based in Dubai, recently experienced a significant security breach. On February 21, 2025, hackers infiltrated one of Bybit's Ethereum cold wallets, resulting in the theft of approximately 400,000 Ether, valued at around $1.5 billion. This incident is considered one of the largest cryptocurrency heists to date. Blockchain analytics firms Arkham Intelligence and Elliptic have suggested potential links to North Korea's Lazarus Group, though official confirmation is pending.

In response, Bybit's CEO, Ben Zhou, assured users of the platform's solvency, emphasizing that all client assets remain secure and are backed 1:1. The company is actively collaborating with law enforcement and blockchain forensic experts to trace and recover the stolen funds. Additionally, Bybit has initiated a recovery bounty program, offering up to 10% of the reclaimed amount to ethical hackers who assist in the recovery efforts.

In a separate development, Bybit has made strides in regulatory compliance within France. After being listed on the Autorité des Marchés Financiers (AMF) blacklist since May 2022 for operating without proper authorization, Bybit was officially removed from this list in February 2025. This delisting follows over two years of concerted compliance efforts and positions Bybit to pursue a Markets in Crypto-Assets (MiCA) license, aiming to operate legally across the European Union.