*Breaking*
**Bybit Exchange Hacked; $1.5 Billion in Crypto Lost**
A major security breach has rocked Bybit crypto exchange, as its Ethereum multisig cold wallet has fallen victim to a sophisticated hack. The breach has led to the theft of an estimated $1.5 billion in digital assets, leaving the crypto community on edge.
Ben Zhou, CEO of Bybit, shared about the hack stating, “This resulted Hacker took control of the specific ETH cold wallet we signed and transfered all ETH in the cold wallet to this unidentified address. Please rest assured that all other cold wallets are secure.”
According to Zhou, the attackers used a masked UI exploit that tricked the wallet signers into approving a malicious transaction. The compromised transaction interface displayed the correct address and a URL linked to @safe, misleading the team into unknowingly authorizing the transfer. Once signed, the hacker gained control of the wallet and moved all ETH holdings to an unidentified address.
