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The cryptocurrency exchange Bybit suffered a hack that resulted in the theft of USD 1.5 billion in Ethereum, in what is considered the largest attack in the history of the sector.

According to Bybit's CEO, Ben Zhou, a hacker managed to manipulate the security signature of a transaction between the platform's wallets, taking control of one of the cold wallets of Ethereum and transferring the funds to unknown addresses.

The hacker withdrew approximately 1.46 billion dollars in a series of suspicious transactions.

Despite this incident, Bybit assured that all customer funds are safe and that the company will fully cover the loss.

The platform is working with blockchain security experts to investigate the attack and assured that all other cold wallets of Bybit remain completely secure.

The theft surpassed the attack on Poly Network in 2021, which was considered the largest theft recorded in the cryptocurrency industry until that point.