#BybitSecurityBreach
Bybit Loses $1.5B in Hack but Can Cover
Loss, CEO Confirmed
* Bybit CEO Ben Zhou has confirmed that the exchange's Ethereum cold wallet was hacked.
Ether is down by 4% following the transfers
* Bybit CEO Ben Zhou wrote on X that a hacker "took control of the specific ETH cold wallet and transferred all the ETH in the cold wallet to this unidentified address.""Please rest assured that all other cold wallets are secure. All withdrawals are normal," he added
* What to know:
Blockchain data shows that around $1.4 billion has been withdrawn so far, and $200 million of that has been liquidated on decentralized exchanges.
trusted source from coindesk
