#BybitSecurityBreach #Inside job
BREAKING NEWS BYBIT ETH COLD WALLET HACK "INSIDE PULL";Bybit lost $1.46 billion in Ethereum from a cold wallet hack, one of the largest thefts in history.
Hackers used a "masked" transaction method and a fake Safe wallet interface to trick Bybit’s security team into approving malicious transactions.
Bybit CEO Ben Zhou reassured users that all losses can be covered, withdrawals remained normal, and only one cold wallet was affected. .
Cryptocurrency exchange Bybit has suffered a massive security breach, losing about $1.46 billion worth of Ethereum tokens. The stolen funds were taken from a cold storage wallet, which is supposed to be one of the safest ways to store digital assets. The hack ranks as one of the biggest crypto thefts ever recorded, showing that even highly secure wallets can have weaknesses.
Blockchain investigator ZachXBT was the first to flag the suspicious outflows from Bybit’s wallets. On-chain data revealed a methodical scheme in which mETH and stETH tokens were converted to
$2 649
through decentralized exchanges.
Related article: BREAKING: Bybit CEO Ben Zhou Exposes Pi Network as Massive Fraud Scheme
The breach came to light when Bybit’s CEO confirmed the incident. He stated that the attackers had used a technique involving a “musked” transaction method. That trick led the team to approve transfers that looked normal, allowing hackers to gain control of an important offline wallet.
